Peter Chandler, who has led BMS Re for over four years, has stepped down from the CEO position to take on a strategic, client-focused role as vice-chair of BMS Re. In line with this announcement, Andrew Wheeler and Russ McGuire have been appointed as interim co-CEOs.
Chandler, during his stint as CEO, was described as instrumental in the reinsurance business’s growth, particularly its expansion globally. BMS Re has offices in the US, London, Bermuda, Middle East, Latin America, and Asia, and now has a team of over 300 professionals with expertise in treaty, facultative, capital markets, and actuaries and analysis.
In his new role as vice-chair, Chandler will continue to engage with key clients, support BMS Re’s brokers in managing carrier relationships, and collaborate with group CEO Nick Cook to cultivate and nurture the next generation of company leaders. Cook will assume the role of chair for the US executive committee.
Wheeler and McGuire will oversee the broking teams across the US, driving growth strategies. With over 20 years at BMS Re, Wheeler brings extensive experience to the role, while McGuire, who joined BMS Re in 2023 after 18 years at Swiss Re, adds valuable expertise.
Reflecting on his tenure, Chandler stated, “I am extremely proud of what we have built, we have grown into a business that we are all incredibly proud of and it has been my enormous privilege to have led it and worked alongside my amazing colleagues. I cannot wait to go back to what I love the most, helping our clients better their businesses and working closely with our fantastic teams across the US and around the world.”
Cook lauded the accomplishments of the reinsurance business under Chandler’s leadership.
“The foundations of BMS Re’s success owe an immense amount to the total dedication of Pete who can be hugely proud of all he has achieved,” he said. “Under his leadership, we saw BMS Re revenues and EBITDA triple as well as the hiring of over 175 new colleagues in the past four years. BMS Re is poised for its next stage of growth and investment, and I greatly look forward to 2024.”
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