John Faustman joins broker from Guy Carpenter

Broking firm BMS has hired John Faustman from rival broker Guy Carpenter to head up the expansion of its reinsurance services in the regional US market.

Faustman will run a new BMS office in Philadelphia, which will offer coverage for property and casualty (excess of loss and quota share), property catastrophe, casualty clash, workers compensation, umbrella/excess liability and equipment breakdown.

Faustman spent 19 years with Guy Carpenter as team leader and a managing director of the Philadelphia operation. Prior to that, John had 19 years of primary experience (actuarial, underwriting and sales) principally in the mutual insurance segment.

Carl Beardmore, chief executive of BMS Associates said: "We are looking to extend both the number of risk classes in which we are active, as well the reach of our business. We are delighted that John will be joining us, his arrival is an important step in this process and brings us closer to achieving some of our objectives."