BMS Group Expands Footprint in India and Dubai
Strategic Partnership in India
BMS Group Ltd, a prominent re/insurance broker based in London, has made significant strides in expanding its global reach this week. The firm announced a strategic alliance with Berns Brett India, marking a notable step forward in its operations within the Indian market. This partnership includes BMS acquiring a minority stake in Berns Brett India, with plans for an increased investment over time. The announcement was officially made on December 17, although the financial specifics of the transaction remain undisclosed pending regulatory approval.
As part of this collaboration, Berns Brett India will undergo rebranding to become BMS (India) Ltd. This name change is reflective of BMS’s dedication to establishing a robust presence in India, which CEO Nick Gillett highlights as an area of significant growth potential. He expressed his enthusiasm for tapping into India’s economic power, remarking on how the nation aligns perfectly with BMS’s specialty strengths and global expertise enhanced by local connections.
New Ventures in Dubai
In a parallel development, BMS also revealed the launch of BMS (DIFC) Ltd. in Dubai, which took effect immediately after receiving the necessary regulatory approvals. This new entity will operate through the Dubai International Financial Centre (DIFC) and is integral to BMS’s regional strategy, which spans from Turkey through the Middle East and North Africa (MENA). The company first set foot in the Dubai market earlier this year, having acquired a controlling stake in Berns Brett Masaood, now rebranded as BMS Masaood.
Ranji Sinha has been appointed as the Senior Executive Officer for BMS (DIFC) Ltd., overseeing all operations and business coming from the MENA region, in addition to Turkey. His experience will be pivotal in driving BMS’s ambitions in these diverse markets. Meanwhile, Lavanya Mamidanna continues her role as Managing Director of BMS Masaood, where she handles the direct business operations in the UAE.
Commitment to Regional Growth
BMS Group’s investments and recent ventures highlight its commitment to the expanding insurance markets in both India and the Middle East. Nick Gillett noted the importance of these growth areas for the company’s diversification strategy, emphasizing the relevance of strong local ties in contributing to the overall success of BMS’s international operations.
Vedanta Baruah, CEO of BMS Middle East & North Africa, reiterated the firm’s focus on the region, stating that BMS is well-prepared to serve clients in both direct and reinsurance markets. The company leverages the specialized skills found within its global offices, ensuring that it remains competitive and ready to meet the needs of its clients in these burgeoning markets.
Looking Ahead
As BMS Group proceeds with its expansion in India and the MENA region, the company aims to capitalize on its early ventures and forge deeper connections with local industries. With the new structures in place, clients can expect improved services tailored to their specific regional needs. The firm’s proactive approach in establishing itself across strategic markets reinforces its goal of becoming a key player in the global re/insurance landscape.
By forging these partnerships and embracing new opportunities, BMS Group not only enhances its local presence but also continues to build on its reputation as a forward-thinking leader in the re/insurance sector, dedicated to delivering value and excellence to its clientele.
