Independent insurance and reinsurance broker BMS has announced the promotion of Neil Prior to the newly created role of group head of environmental and social responsibility. Prior will report to Nick Cook, CEO of BMS.
In his new role, Prior will lead BMS’s environmental and social initiatives. He will spearhead the changes and commitments the company is making in support of its long-term sustainability strategy through the identification of risks and opportunities.
Prior has more than 35 years of insurance industry experience. He joined BMS in 2019 as a director of global risks in London. Before joining BMS, Prior led the broking teams at Sedgwick, Marsh and JLT and served as an underwriter of property and power business at Ace Global Markets (now Chubb), where he was underwriting director for the company’s Lloyd’s syndicate. In 2015, Prior founded Priority Underwriting, his own MGA and coverholder at Lloyd’s business, to underwrite business on behalf of Lloyd’s syndicates. He led Priority Underwriting until 2019.
“BMS is committed to being a responsible business with a robust and credible net-zero carbon emissions plan,” Cook said. “We want to work with our clients, our employees and all our stakeholders to assist in moving the market towards more sustainable and environmentally conscious business practices.
“Neil is the ideal individual to take on this critical role. He has significant industry experience, having formed and run his own underwriting business specialising in the global energy sector. Neil has a superb grasp of both underwriting and broking, having worked on both sides, and understands the risks many of our clients face.”
“Over the past decade, BMS has seen significant expansion globally,” Prior said. “Through this period, BMS has been recognising and identifying environmental challenges and its expanding social responsibilities. BMS is eager to become an industry leader and to show the long-term value that a clear ESG vision and action plan brings to our clients and the communities we represent. Being appointed to lead this effort at a group level, as an exclusive role, shows just how seriously BMS is taking environmental and social responsibility. I look forward to leading this critical initiative.”