Protecdiv enters partnership with BMS Group
Protecdiv, the first tier-one minority-led re/insurance broker in the US, has entered a strategic relationship with BMS Group to enhance its service offering to property and casualty reinsurance clients.
The partnership will enable both companies to leverage their strengths in the production, placement and servicing of ceded reinsurance and retrocession business, providing clients with a joint proposition in the US and internationally. The focus will be on property, general liability, auto, workers compensation, cyber risk, mortgage and opportunities in emerging risks.
Protecdiv and BMS Group will continue to operate independently, as well as capitalising on new growth opportunities to expand the strategic offering of each firm.
Pete Chandler, CEO of BMS’s US reinsurance arm, said: “Protecdiv is led by experienced reinsurance professionals who envision a unique and unprecedented venture while leveraging technology to deliver responsive solutions. It offers the insurance and reinsurance world a compelling opportunity to enhance diversity throughout the risk management procurement chain.”
Kael Coleman, founder and chief executive officer of Protecdiv, said the firm had always planned to use key partnerships to drive growth. “Our relationship with BMS Group is a win-win for all stakeholders. It will allow Protecdiv to enhance client services in catastrophe modeling, actuarial, contracts, accounting, and claims, with both firms committed to the highest level of client engagement.”
He said Protecdiv had looked for a partner that was progressive in its technology capabilities.
