Global insurance and reinsurance broker BMS Group Ltd has officially incorporated BMS (DIFC) Ltd after receiving all necessary licenses and regulatory approvals.
The specialist reinsurance brokerage launched its Middle East operations in 2023 with the acquisition of United Arab Emirates (UAE) insurance brokerage Berns Brett Masaood (now BMS Masaood).
The Dubai International Financial Center (DIFC) is a growing financial hub in the region and continues to attract global reinsurance/insurance companies and brokers, with an increasing number of companies setting up operations here.
BMS said the launch “lays another cornerstone in the group’s regional strategy extending from Turkey to the Middle East and North Africa.”
The company has officially appointed Ranji Sinha as SEO of BMS (DIFC) Ltd, a position that makes him responsible for all business from the MENA region and Turkey, as well as all regions and categories underwritten by DIFC.
Lavanya Mamidanna will continue as Managing Director of BMS Masaood in the UAE, responsible for all Direct businesses in the UAE.
The company explained that the leadership team will continue to report to BMS Middle East and North Africa CEO Vedanta Baruah before reporting to London.
Baruah said: “BMS continues to be committed to the growth of the region and we are now fully prepared to serve clients in the direct insurance and reinsurance sectors, leveraging the highly specialized technical skills of BMS Group’s global offices.”