BMS launches M&A Asia operations
BMS Group Limited (BMS), an independent specialist insurance and reinsurance broker, has launched Asia broking operations, headquartered in Singapore and with proposed operations in Hong Kong pending regulatory approval.
BMS Asia will initially focus on M&A insurance broking, enhancing the group’s existing capabilities in that class of business in London, Canada and Australia.
Sandra Lee will be CEO of BMS Asia and is joined by Martijn de Lange and Aris Wong, who will be Managing Directors in the regional Private Equity, M&A and Taxation (PEMAT) operation, and by Amy Fu, who is Executive Director in Singapore.
Nick Cook, CEO of BMS Group, says: “This is the latest stage in our strategy to provide our clients with a competitive and diverse, globally integrated offering by establishing scalable hubs in the key insurance markets around the world. The M&A insurance market in Asia is evolving and maturing at pace, and we are delighted that Sandra and the team will be driving our initial offering in the region.
Sandra Lee, CEO of BMS Asia, says: “Growth in the Asian M&A insurance market is accelerating and we expect a robust increase in deal flow in 2021, with buyers looking for ways to protect their investments and sellers seeking the best solutions to reduce their liability post deal closure.
“The use of M&A insurance outside of Asia has grown exponentially in the past decade. However, M&A insurance is still in its infancy in a number of countries such as China and India, two of the largest markets in Asia, due to unfamiliarity with such risk transfer solutions. This is in stark contrast to hubs such as Singapore, Hong Kong, Seoul and Tokyo, where we have witnessed an increasing level of regularity and sophistication in the usage of M&A insurance.
“With Asian economies widely projected to emerge soonest and strongest from the Covid-inspired global slowdown, and M&A activity expected to bounce back first here too, it is highly likely that the interest in M&A insurance in Asia is set to soar. The creation of BMS Asia is a really exciting development for insurance buyers in the region. As a leading independent broker, we can offer a genuine alternative to the world’s largest intermediaries and our independence gives us the freedom to be innovative and entrepreneurial and thus pursue the very best solutions for our clients.”