Chief executive stresses that BMS will not sell up

Carl Beardmore, BMS

London-based broker BMS will participate in mergers and acquisitions in its quest to take on the big three brokers, Aon, Marsh and Willis, says chief executive Carl Beardmore.

In an exclusive Insurance Times interview, he insisted the broker will not sell up to a larger rival.

“I know there are regular rumours that BMS is simply polishing itself up ready for a sale,” he said. “That couldn’t be further from the truth.”

“We are polishing ourselves up to make ourselves into a highly attractive and compelling business that can sustain its independence.”

BMS’s turnover for 2010 was £50.2m. Beardmore said the company is on track to surpass £100m by 2016, but acknowledged the company will need to buy to put on the necessary bulk.

“M&A is something that we are going to have to become actively involved in the next two to three years,” he said.

Click here to read the full interview with BMS chief executive Carl Beardmore.