BMS launches delegated authority and consortia team

BMS has launched a delegated authority and consortia team focused on the broking and servicing of Lloyd’s market consortia.

The new cross-team unit will be led by Richard Wynn, managing director of delegated authority and consortia.

BMS said the team will draw on the broker’s operational expertise in delegated authority structures and bespoke portfolio placements.

The initiative is intended to support carrier clients by bringing together specialist expertise and resources across the business.

Wynn will work with Freddie Porritt and Emily Davies in BMS Re’s treaty and facultative units.

The team will work across BMS to support existing carrier portfolios and manage the development of future consortia facilities across the firm.

BMS said the unit will act as a single gateway for consortia business, bringing consistency in operational simplicity and analytical depth.

The broker said the team will also provide clients with insights in a sector that continues to grow rapidly.

Richard Dudley, group chief broking officer at BMS, said: “Richard is exceptionally well placed to lead our consortia activity.

“He combines a deep technical understanding of delegated authority structures with a clear strategic vision.

“This refocused approach, backed by a growing, multi-disciplinary team, underlines our commitment to the success of the London market and ensures we remain a trusted independent partner for carriers.”

BMS said the launch enhances its Lloyd’s consortia proposition at a time when carriers are increasingly seeking efficient structures to deploy capacity and manage portfolio opportunities.

The broker said consortia can support more consistent capacity, improved capital deployment and stronger alignment around underwriting quality.

Wynn said: “Consortia deliver a win–win–win across our market, they improve capital deployment, unlock larger and more consistent capacity and align all stakeholders around underwriting quality.

“Our aim with this specialist unit is to help carriers harness these advantages through bespoke, efficient consortium solutions and allow them to navigate this next stage of the cycle.”