UK-based insurance and reinsurance broker BMS Group says it has started operations in New Zealand with the establishment of BMS Risk Solutions (BMSRS).

The business has started with offices in Christchurch and Dunedin, expects to open in Auckland next year and says its team is set to “expand significantly” by the end of this year.

BMSRS is described as an independent New Zealand owned and operated extension of BMS Group. It has been established by experienced industry leaders Storm McVay, Paul Meehan and David Gibbons.

The UK company says the relationship between BMSRS executives and BMS Group dates back to 2008, and BMS Group provides wholesale broking services to a number of New Zealand corporate and institutional clients with requirements for tailored risk financing solutions, including London market placements.

“BMS has had a close working relationship with them and their clients for many years so this is a natural progression as we look to broaden our global footprint,” BMS Group CEO Nick Cook said.

People to have joined the team also include Wayne Henderson from Aon, Brett Gerrard (Gallagher), Sue Hale (Black Peak Risk), Josh Thomson (Willis Towers Watson) and Dominic Sheehan (Marsh).

“The collaboration from our Australian and UK colleagues has been exceptional and lays a solid platform for future success,” Ms McVay said. “Since commencing operations we have been humbled by the support of clients, and insurers who have backed our vision and desire to establish a viable alternative to the traditional market players.”