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Broker hits revenue milestone

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Specialist (re)insurance broker BMS recorded revenue growth of 25% last year, helping it break the £100 million ($186.27 million) barrier for the first time.

The London wholesale business grew revenue by 32%, while its US reinsurance division gained 28%. Overall, the reinsurance division achieved an 18% revenue increase.

BMS is investing heavily in its US platform to capture new clients in the reinsurance and managing general agent space.

CEO Nick Cook attributes the result to the company’s staff and its employee-owned business model.

Recruitment in Australia – where BMS has offices in Melbourne, Sydney, Brisbane and Perth – and elsewhere in the group’s international network has increased employee headcount to 390.