BMS REBRANDS AS MINOVA AFTER PRIVATE EQUITY DEAL

London-based reinsurance and insurance broker BMS has launched a new holding company after private equity firm Capital Z Partners completed its investment in the firm. The broker announced yesterday the launch of Minova Insurance and confirmed that Capital Z had acquired a stake in the company for $50.7m. Minova Insurance will act as the holding company for separately managed and regulated insurance businesses, including the managing general agent business of Pioneer Underwriters, which was launched in 2011. It also includes BMS, the broking business founded in 1980. Dane Douetil, Group CEO of Minova Insurance, said: “With significant new capital, we have the flexibility and the resources to continue to expand, potentially through the acquisition of further teams and individuals, but also with the potential for corporate acquisitions.”