BMS Re welcomes new Bermuda CEO

Specialty reinsurance broker BMS Re has announced the appointment of Chris McDowell as CEO of BMS Re Bermuda, effective Nov. 26. The company has also announced the appointment of Mario Binetti as head of casualty treaty and actuarial for BMS Re Bermuda, effective immediately. Both McDowell and Binetti will be based in Bermuda.

McDowell has more than 30 years of reinsurance industry experience. He joins BMS Re from Gallagher Re Bermuda (formerly Willis Re Bermuda), where he served as CEO. Prior to that, he served at Aon Benfield as CEO of Global Re Specialty in Bermuda.

Binetti also has more than three decades of industry experience. He joins the company from Everest Re Bermuda, where he served as head of casualty treaty underwriting and actuarial. Before Everest Re, he served as senior vice president and chief actuary at JRG Re in Bermuda.

“BMS Re’s independence and resolute commitment to our clients is attracting some of the industry’s leading talent,” said Adam Mullan, executive chairman of BMS Re Bermuda. “Following our launch of BMS Re Bermuda in Q4 2021, these hires signify our commitment to building an exceptional team. Chris is one of the most experienced and respected brokers in the Bermuda reinsurance retrocessional market, having held leadership roles on the island for more than 18 years.

“Mario’s technical and analytical expertise enable us to further develop our casualty and specialty reinsurance offering. I am delighted to announce their appointments and look forward to working with Chris and Mario in serving our clients.”

“There is huge opportunity in Bermuda for an independent broker of BMS’s ambition,” said Nick Cook, CEO of BMS Group. “The investment BMS continues to make in talent, innovation and analytics make it the leading independent broker in the market. BMS Re’s goal is not to be the biggest, but to continue delivering solutions to our growing client base with an unwavering focus.

“We will never lose sight of the fact that the quality of the products we deliver to our clients is at the very heart of our culture and is essential to their success. These hires demonstrate our continued commitment to building a formidable team.”