Lloyd’s broker launches new delegated authority and consortia team

Independent specialist (re)insurance broker BMS Group has confirmed the launch of a new “cross-team unit focused on the broking and servicing of Lloyd’s market consortia”.

BMS said that the unit – to be led by Richard Wynn, managing director of delegated authority and consortia at BMS – will work across the business to develop carrier clients’ existing portfolios, while managing the development of future consortia facilities across the firm.

It added that the “specialised team will act as a unified gateway for consortia business, ensuring consistency in operational simplicity and analytical depth, and providing clients with the insights needed in a sector that continues to grow rapidly”.

The new team will work alongside leaders from BMS Re’s treaty and facultative units, including property reinsurance and retro broker Freddie Porritt and client management lead Emily Davies.

Clear strategic vision

Richard Dudley, group chief broking officer at BMS, said: “Wynn is exceptionally well placed to lead our consortia activity. He combines a deep technical understanding of delegated authority structures with a clear strategic vision.

“This refocused approach, backed by a growing, multidisciplinary team, underlines our commitment to the success of the London market and ensures we remain a trusted independent partner for carriers.”

Wynn added: “Consortia deliver a win-win-win across our market – they improve capital deployment, unlock larger and more consistent capacity and align all stakeholders around underwriting quality.

“Our aim with this specialist unit is to help carriers harness these advantages through bespoke, efficient consortium solutions and allow them to navigate this next stage of the cycle.”