BMS Group

In 1980, Robert Ewing Fellows Ballantyne, Graham John McKean, and David Sullivan started an independent, employee-owned insurance broking firm named Ballantyne, McKean and Sullivan. From a small office above a handbag shop in London, the company initially specialized as a North American non-marine treaty reinsurance broker. A key early milestone was in 1984 when the firm was admitted as a Lloyd's broker, paving the way for expansion and diversification. The company grew by creating and acquiring several specialist broking units. In 2005, a significant branding change occurred when the company was renamed BMS Group Limited. This reflected its evolution from a niche reinsurance broker to a more diversified insurance and advisory business. A major strategic shift happened in late 2022 when the French investment company Eurazeo, alongside existing shareholders British Columbia Investment Management Corporation (BCI) and Preservation Capital Partners (PCP), made a substantial investment. This deal, which valued BMS at £1.75 billion, resulted in Eurazeo and BCI becoming majority shareholders. The transaction, completed in September 2023, injected up to £355 million into the group to fuel further global expansion, both organically and through an active acquisition strategy. This new ownership structure is designed to support the existing management team, led by CEO Nick Cook, in continuing the firm's growth while maintaining its operational independence.