Profiles
18. BMS ASSOCIATES
LATHAM HOUSE
16 MINORIES
LONDON EC3N 1AX
TEL: 020 7480 7288
FAX: 020 7488 9837
EMAIL: INFO@BMSGROUP.COM
WEBSITE: WWW.BMSGROUP.COM + WWW.BMSGROUP.COM
FEE AND COMMISSION INCOME (2004): £49.04m
PRE-TAX PROFIT: £3.66m
NUMBER OF UK EMPLOYEES: 330
CHIEF OFFICER: JOHN SPENCER, GROUP CHIEF EXECUTIVE
YEAR ESTABLISHED: 1980
HISTORY
BMS is an independent, employee-owned broking and advisory organisation founded in 1980.
The founding company of the group, Ballantyne McKean & Sullivan, is a specialist North American non-marine treaty reinsurance broker, and was admitted as a Lloyd's broker in 1984.
Since then, a programme of expansion and diversification has seen the formation and acquisition of several further specialist broking units, including the acquisition in 1997 of BMS Harris & Dixon Insurance Brokers, one of the longest-established broking firms in the world.
MAJOR SHAREHOLDERS
Directors and employees (80%) and AHJ Investments (20%).
MAIN LINES OF BUSINESS
International insurance and reinsurance, North American insurance and reinsurance, London market reinsurance, facultative insurance and reinsurance, binding authorities and market facilities, marine insurance and reinsurance worldwide, US primary casualty and lead umbrella, creditor insurance (banking and finance industry), insurance for ship and aircraft financiers.
SUBSIDIARY COMPANIES
UK - BMS Associates, BMS Group, Ballantyne McKean & Sullivan, BMS Harris & Dixon Reinsurance Brokers, BMS International Intermediaries, BMS Harris & Dixon, BMS Harris & Dixon Marine, BMS Re, BMS Specialist Risk Services, Jansen & Hastings Intermediaries, BMS Facultative, BankServe Insurance Services, BMS Management Services.
Overseas: BMS Asia Intermediaries Pte - Singapore; BMS Asia Intermediaries - Kuala Lumpur, Malaysia; BMS Bermuda - Hamilton, Bermuda; BMS Harris & Dixon Praha - Prague, Czech Republic; BMS Insurance & Reinsurance Brokers Hellas SA - Athens, Greece; BMS International Intermediaries Pty - Melbourne, Australia; BMS Nordic Intermediaries AS - Oslo, Norway; BMS Speciality Risks Underwriting Managers - Vancouver, Canada.
CHIEF OFFICER BIOGRAPHY
John Spencer began his insurance career with Willis Faber & Dumas in 1981. From 1983 to 1995 Spencer was involved in producing and broking non-marine insurance and reinsurance business emanating from North America, latterly as managing director of BMS Special Risk Services.
From 1995 to 1997 Spencer worked for the Corporation of Lloyd's as head of development and operations for North America. He was heavily involved in the planning and implementation of the Lloyd's reconstruction and renewal programme.
In 1997 Spencer returned to BMS to lead the group's strategic planning and business development activity. He was appointed to the board of the group's holding company, BMS Associates in 1998.
In January 2000 he was appointed group chief operating officer and in January 2002 group chief executive.
