BMS appoints ex-Gallagher chief as Bermuda CEO
BMS Re, the specialty reinsurance broker, has appointed Chris McDowell as chief executive offiver (CEO) of BMS Re Bermuda, effective 26 November, 2022, following completion of his notice period and any requisite regulatory approvals. Mario Binetti also joins as head of casualty treaty and actuarial for BMS Re Bermuda, effective immediately. McDowell and Binetti will both be based in Bermuda.
McDowell, who has worked in reinsurance for more than 30 years, joins BMS Re from his most recent role as CEO of Gallagher Re Bermuda (formerly Willis Re Bermuda). Prior to this, McDowell worked at Aon Benfield where he was CEO of Global Re Specialty in Bermuda.
Binetti, also with more than 30 years' experience in reinsurance, joins from Everest Re Bermuda, where he served as head of casualty treaty underwriting and actuarial. Before this, he was senior vice president and chief actuary at JRG Re in Bermuda.
Adam Mullan, executive chairman of BMS Re Bermuda, said: "BMS Re’s independence and resolute commitment to our clients is attracting some of the industry’s leading talent. Following our launch of BMS Re Bermuda in Q4 2021, these hires signify our commitment to building an exceptional team.
“Chris is one of the most experienced and respected brokers in the Bermuda reinsurance and retrocessional market, having held leadership roles on the island for more than 18 years. Mario’s technical and analytical expertise enable us to further develop our casualty and specialty reinsurance offering. I am delighted to announce their appointments and look forward to working with Chris and Mario in serving our clients.”
Nick Cook, CEO of BMS Group, added: “There is huge opportunity in Bermuda for an independent broker of BMS’s ambition. The investment BMS continues to make in talent, innovation and analytics make it the leading independent broker in the market. BMS Re’s goal is not to be the biggest, but to continue delivering solutions to our growing client base with an unwavering focus. We will never lose sight of the fact that the quality of the products we deliver to our clients is at the very heart of our culture and is essential to their success. These hires demonstrate our continued commitment to building a formidable team.”
