Fee and commission income (2003): £419m.
Pre-tax profit (2003): £4.1m
Address: Latham House,
London EC3N 1AX
Tel: 020 7480 7288
Fax: 020 7374 5928
Year established: 1980
History: The BMS Group is an independent, employee-owned broking and advisory organisation founded in 1980.
The founding company of the group, Ballantyne McKean & Sullivan Ltd, 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 Ltd, one of the longest-established broking firms in the world.
Major shareholders: Directors and employees (80%) and AHJ Investments (20%).
Main lines of business: Specialist businesses within the group handle a wide variety of international reinsurance, binding authority and insurance programme business, with particular expertise in classes such as property catastrophe, professional liability, marine, accident and health, and financial risks.
Main geographic concentrations are US, Canada, Asia, Australasia and Europe (including the Nordic Region, Central & Eastern Europe and the Eastern Mediterranean).
Number of UK branches: 1
Subsidiary companies: Ballantyne McKean & Sullivan Ltd;
BMS International Intermediaries Ltd;
BMS Harris & Dixon Ltd;
BMS Harris & Dixon Marine Ltd;
BMS Re Ltd;
BMS Special Risk Services Ltd;
BMS Facultative Ltd;
BankServe Insurance Services Ltd;
Jansen & Hastings Intermediaries Ltd;
Underwriting Facilities Ltd;
BMS Harris & Dixon Reinsurance Brokers Ltd;
BMS Bermuda Ltd.
Number of UK employees (2003): 288
Chief officer: John Spencer, group chief executive.
Biography: John Spencer started 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 Ltd.
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 Ltd, in 1998.
In January 2000, he was appointed group chief operating officer and in January 2002, group chief executive.