BMS Group has expanded its footprint across the Middle East, North Africa and South Asia with the launch of a new operation in Dubai and a strategic partnership in India. The moves form part of the broker’s regional strategy spanning Turkey, MENA and the Indian market.
The company said it has secured the necessary license and regulatory approval to establish BMS (DIFC) Ltd, effective immediately. The Dubai International Financial Centre entity is intended to act as a hub for business across the wider region.
BMS has appointed Ranji Sinha as senior executive officer of BMS (DIFC) Ltd. He will be responsible for business originating from MENA and Turkey, as well as all territories and classes underwritten in the DIFC.
Within the United Arab Emirates, Lavanya Mamidanna will remain managing director of BMS Masaood, overseeing all direct business in the UAE market. Both Sinha and Mamidanna will continue to report to Vedanta Baruah (pictured above), CEO of BMS Middle East & North Africa, who in turn reports into London.
“BMS continues to commit to the region and we are now fully equipped to serve our clients in both direct and reinsurance arenas,” Baruah said. He added that the firm will “draw on the highly professional technical skills located in BMS Group’s global offices.”
Those global capabilities include BMS Re’s recent support for the launch of Taurus Flood’s nationwide private flood facility in the US, which offers higher limits and broader coverage than the National Flood Insurance Program under a Lloyd’s binding authority.
The group’s leadership said platforms such as the DIFC hub are intended to connect clients in emerging markets to this type of specialty and catastrophe-focused expertise, using London and other centers to structure complex placements.
In India, BMS has entered into a strategic partnership with Berns Brett India as it continues to build out its presence from Turkey to the subcontinent. Subject to regulatory approval, the Indian operation will be rebranded as BMS (India) Ltd.
Nick Gillett, CEO of BMS International, said the group’s investments “from Turkey to India show the focus we are giving to these exciting areas of growth” and their role in the firm’s diversification and geographic spread.
He described India as “an economic powerhouse” that aligns with BMS’s specialty strengths and said the partnership is expected to leverage “strong local connections” alongside the broker’s global skill sets.
