BMS Re US names new CEO

Leadership re-shuffle follows significant investment into the firm

BMS Re US names new CEO

Insurance News

By Bethan Moorcraft

Specialist reinsurance broker, BMS Group (BMS), has today announced a leadership re-shuffle within its US reinsurance team.

Pete Chandler has been appointed as president & CEO of BMS Re US, effective immediately. He will report to BMS Group CEO Nick Cook and will oversee the overall operations of BMS Re US, while focusing on its strategic development. Chandler replaces current CEO Steve Korducki, who will transition to the role of CFO.

“BMS Re US has the best talent in the business, financial backing that is the envy of the industry and a client-centric, independent ethos that has consistently demonstrated it adds value to our clients, as they define it,” said Chandler. “With Steve and the executive team, I’m very excited to take on the reins as we build out this business and create the best and largest independent reinsurance broker in the US.”

Andrew Bustillo, executive managing director of origination for BMS Re US, is also taking on additional responsibilities. He will become vice chairman and has been tasked with continuing to drive production efforts at the firm.

The appointments follow the completion in October of a large-scale investment into BMS by British Columbia Investment Management Corporation and Preservation Capital Partners. BMS Group CEO, Nick Cook, said these changes present the US reinsurance team with great growth prospects.

“BMS Re US is primed for growth,” he commented. “With the backing of BCI and PCP, we are ready to fulfil our role as the independent reinsurance alternative to the big three. We’ve already made a number of significant appointments in the US and London, with many more hires of the industry’s top-tier talent planned.”

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