First introduced in December 2022, the Eurazeo funding reveals BMS’ dedication to development throughout its buying and selling arms.
As well as, it goals to boost its digital, analytics and modelling capabilities and additional reinforce its means to ship shopper options.
For the reason that transaction was introduced, BMS has continued its fast enlargement and is ready to shut out one other yr of development with forecast revenues of £300m ($367m) and development of 30% throughout its three pillars of Specialty, Reinsurance, and Worldwide.
Moreover, prior to now yr, BMS has made ten acquisitions, constructing on the eight made within the interval 2019 to 2022, and noticed employees numbers growing from roughly 400 to greater than 1,200 worldwide.
Additionally from 28 September 2023, Emmanuel Clarke will turn into BMS Group chairman, taking up from John Hastings-Bass.
Beforehand the president and CEO of PartnerRe, he has a report of main and rising the asset worth of groups.
Response to BMS Eurazeo funding
BMS Group CEO Nick Prepare dinner stated: “With the closure of this transaction, we transfer into 2024 on a wave of momentum with the capital required to additional drive our imaginative and prescient of turning into the impartial specialty insurance coverage and reinsurance dealer of selection.
“Our individuals are fairly distinctive, and as we mark this vital juncture in BMS’ development, I owe them a particular thanks for his or her dedication and dedication to delivering extraordinary service to our purchasers.
“This important funding not solely brings new capital and useful resource to BMS however to our purchasers and the market as a complete. We’ll proceed to bolster our status because the clear and pure residence for entrepreneurial, shopper targeted expertise who wish to be absolutely empowered and rewarded by an modern and high-growth tradition.
“I additionally welcome Emmanuel to BMS. His profitable construct out of PartnerRe’s international reinsurance enterprise throughout his 25-year tenure alongside his expertise with progressive, knowledge, digital and know-how pushed monetary fashions will instantly contribute to BMS. Equally, I’m delighted that John has agreed to stick with BMS. Underneath his chairmanship we’ve seen astonishing development and I, together with all of BMS, thank him for his indispensable position in our success.”
Maxime de Bentzmann, co-head mid-large buyout at Eurazeo, added: “Specialty insurance coverage and reinsurance markets are lengthy standing funding themes for Eurazeo’s mid-large buyout technique. BMS’ entrepreneurial and meritocratic tradition and worldwide footprint align properly with Eurazeo’s funding method. Since signing, the enterprise has continued on its spectacular natural and inorganic development trajectory on which we’re dedicated to assist Nick Prepare dinner and the administration crew.”