Specialty property and casualty re/insurance broker Protecdiv has reportedly partnered with Specialist re/insurance broker BMS Group to expand its property and casualty (P&C) reinsurance offerings.
This strategic partnership is at providing a joint proposition to clients in the US and globally and achieve highest level of client engagement, Reinsurance News reported.
Following the new development, both companies will leverage their strengths in the production, placement and servicing of ceded reinsurance and retrocession business.
In addition, Protecdiv also aims to expand client services in catastrophe modeling, actuarial, contracts, accounting, and claims.
Protecdiv founder and CEO Kael Coleman was quoted by Reinsurance News as saying: “Since we launched earlier this year our plans for growth have always involved key partnerships with leading brokers in the industry.
“With technology at the heart of our business, it is important that we partner with companies that are progressive in their technology capabilities. This is our second partnership announcement in two months and is a great opportunity to demonstrate our expertise and value in the reinsurance market.”
BMS’s US reinsurance arm CEO Pete Chandler was quoted as saying: “Protecdiv is led by experienced reinsurance professionals who envision a unique and unprecedented venture while leveraging technology to deliver responsive solutions.
“It offers the insurance and reinsurance world a compelling opportunity to enhance diversity throughout the risk management procurement chain. We see great opportunities emerging from the partnership and we are delighted to support their efforts.”