UK-based specialist insurance and reinsurance broker BMS has opened a new unit in New Zealand.

The new unit is called BMS Risk Solutions. It will operate as an independent extension of the BMS Group being led by Storm McVay, Paul Meehan and David Gibbons. The unit has also hired other experienced people.

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Currently, it will operate from two offices in Dunedin and Christchurch. A third location is slated to open in Auckland later this year.

BMS Group CEO Nick Cook said: “We are delighted to have partnered with such highly experienced and well-regarded industry leaders in Storm McVay, Paul Meehan and David Gibbons. 

“BMS has had a close working relationship with them and their clients for many years so this is a natural progression as we look to broaden our global footprint.”

Established in 1980, BMS offers specialist insurance, reinsurance, and capital markets advisory services.

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The company has 27 offices across the US, Canada, Europe, Latin America, Australia and Asia. According to its website, BMS has more than 700 staff.

In October last year, the broker acquired South Korea’s Value-add Insurance Broker to strengthen its Asian presence.

At the time of the announcement, Cook said: “Having a local presence in Seoul aligns perfectly with our international strategy of providing clients with value-added services in the world’s leading financial services hubs.”