BMS not in talks with Tiger Risk about a potential acquisition

14th December 2009

BMS, a leading independent specialist broker, announced today it is not in talks with Tiger Risk about the potential acquisition of its business.

“Rumours that BMS is about to be bought have been around the market almost as long as we have” commented Hugo Crawley, Chairman of BMS Group. “We can confirm that we are not in discussions with Tiger Risk, that our relationship has only ever been about providing them with support and infrastructure. We do not intend to renew this contract at expiry and will be working with Tiger Risk to arrange an orderly transfer at that time, maintaining our full servicing obligation to all our mutual clients.

“We have been very clear with our clients and our staff that we are committed to a strategy of independence. As the broking market consolidates, buyers are looking for the fresh perspective of an independent broker, and experienced market professionals are looking afresh at what kind of operation enables them to deliver the right result for clients.

“With this in mind, we are attracting interest from seasoned brokers who want to work in a practitioner-led culture, where they have the autonomy to run their own business.  The entire group is focused on an agenda that will significantly grow revenues in London and the U.S, and we believe our current organisation allows us to take the group to the next stage of its development.”

Notes for editors

BMS Group
Founded in 1980, BMS services clients from locations in London, Bermuda and North America, focusing on Reinsurance, Delegated Authority and Specialist Insurance broking. In 2008 the Group’s turnover was £42.6 million.

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