Willis Re acquires BMS Group US division as Sun Life and Wilton Re partner

Willis Re has signed a definitive agreement to acquire the U.S. reinsurance division of BMS Group, known as BMS Re, US. The acquisition includes BMS Intermediaries Inc., BMS Capital Advisory LLC, and the associated U.S. reinsurance brokerage team based in London. The move is intended to accelerate Willis Re’s geographic growth and expand its presence in the American insurance market, specifically within property catastrophe, medical liability, and workers' compensation lines.

Separately, Sun Life Financial Inc. and Wilton Re have entered into a strategic reinsurance and asset management partnership. The collaboration will lead to the establishment of Windsor Life Re, a reinsurer domiciled in the U.S. and Bermuda. The partnership aims to deploy approximately US$900 million in capital, with Sun Life and Wilton Re each contributing about one-third of the total equity. Windsor Life Re will initially reinsure a block of approximately US$1.7 billion from Wilton Re, with the goal of growing to approximately US$10 billion in assets.