BMS Group has launched a specialist unit dedicated to the broking and servicing of Lloyd’s market consortia. The Delegated Authority and Consortia team will be led by Richard Wynn as managing director.
The new unit sits within BMS’s broader Lloyd’s and London market operation. It will draw on the firm’s expertise in delegated authority structures. The unit will work across the business to develop carrier portfolios and manage all future consortia facilities.
The team will operate alongside Freddie Porritt and Emily Davies in BMS Re’s Treaty and Facultative units. The unit is designed to give carriers a single point of contact for consortia business across the firm.
The announcement is the latest in a series of London-focused hires at BMS. BMS Re added two senior reinsurance professionals in early 2025, shortly after Richard Dudley joined as group chief broking officer from Aon.
Richard Dudley, group chief broking officer at BMS, said Wynn was well placed to lead the new function.
“Richard is exceptionally well placed to lead our consortia activity,” Dudley said. “He combines a deep technical understanding of delegated authority structures with a clear strategic vision.”
He added that the unit reflected the firm’s broader London market ambitions. Dudley said the unit’s formation reinforces BMS’s position in the London market and its standing as an independent broker for carrier clients.
Wynn said the consortia model delivers advantages across the market for all parties involved. He described the structure as addressing capital deployment, capacity access, and underwriting alignment simultaneously.
“Consortia deliver a win-win-win across our market: they improve capital deployment, unlock larger and more consistent capacity and align all stakeholders around underwriting quality,” he said.
Wynn added that the unit’s purpose was to help carriers translate that into practice.
“Our aim with this specialist unit is to help carriers harness these advantages through bespoke, efficient consortium solutions and allow them to navigate this next stage of the cycle.”
The launch comes at a time when delegated authority accounts for approximately 45% of Lloyd’s total business volume. Brokers are now expected to go beyond placement and actively develop carrier portfolios.
The shift is gaining momentum at the carrier level as well. As pricing softens across specialty lines, carriers are building more delegated authority partnerships to access business closer to its source and optimise capital deployment.
Lloyd’s has reinforced that view. In its Q4 2025 Market Messages, the corporation identified structured solutions and consortia-led facilities as a major expected growth area for 2026. It also noted that facility-led placement is expanding across classes and may change how capacity providers participate in syndicate portfolios.
