Independent reinsurance broker BMS Re has announced that it has completed its acquisition of Trean Intermediaries, a US-based reinsurance broker and services company.
The acquisition strengthens BMS Re’s geographic presence in key US growth areas, with new offices in Tampa and Greensboro, N.C. This adds to BMS Re’s existing footprint in the US, where it has offices in Atlanta, Chicago, Minneapolis, Dallas, New York, Philadelphia, and San Francisco.
Founded in 2013 as a joint venture with Trean Corporation, Trean Intermediaries specializes in workers’ compensation, property and casualty, accident and health, personal auto, public entity, and professional liability lines for insurer and MGA clients. BMS Re has now acquired Trean in full, with staff and infrastructure transferring to BMS Re. Sean Ryan, president of Trean, will assume the newly created role of deputy CEO at BMS Re. He will report to Peter Chandler, BMS Re president and CEO.
BMS’s US reinsurance has seen significant growth over the past two years, with revenues rising by 55% and a 36% jump in client count. In the past 24 months, BMS Re has grown its broking team by 50% and its analytics unit by 77%. The company now has more than 185 employees.
BMS Re also continues to invest in technology and analytics, launching its Pathlight Analytics platform in April.