BMS, the independent insurance and reinsurance broker, announces the promotion of Neil Prior to the newly created role of group head of environmental and social responsibility, effective immediately. Prior reports directly to Nick Cook, CEO of BMS, and has a global mandate to lead BMS’ environmental and social initiatives.
In his new role, Prior will focus exclusively on the increasingly important area of environmental and social responsibility. He will lead BMS through the important changes and commitments the company is making to become a market leader in the financial services sector and will help inform the firm’s long term sustainability strategy through the identification of risks and opportunities.
With more than 35 years’ experience in the insurance industry, Prior joined BMS in 2019 as a director within global risks in London before assuming his new role. Before working for BMS, Prior led the broking teams at Sedgwick, Marsh and JLT and was an underwriter of property and power business at Ace Global Markets (now Chubb) where he served as underwriting director for its Lloyd’s syndicate.
From 2015 to 2019, Prior founded and led Priority Underwriting, his own MGA and coverholder at Lloyd’s business, to underwrite business on behalf of Lloyd’s syndicates.
Cook said: “BMS is committed to being a responsible business with a robust and credible net-zero carbon emissions plan. We want to work with our clients, our employees and all our stakeholders to assist in moving the market towards more sustainable and environmentally conscious business practices.
“Neil is the ideal individual to take on this critical role. He has significant industry experience, having formed and run his own underwriting business specialising in the global energy sector. Neil has a superb grasp of both underwriting and broking, having worked on both sides, and understands the risks many of our clients face.”
Prior added: “Over the past decade, BMS has seen significant expansion globally. Through this period, BMS has been recognising and identifying environmental challenges and its expanding social responsibilities. BMS is eager to become an industry leader and to show the long-term value that a clear ESG vision and action plan brings to our clients and the communities we represent. Being appointed to lead this effort at a group level, as an exclusive role, shows just how seriously BMS is taking its environmental and social responsibility. I look forward to leading this critical initiative.”