London-based global insurance broker BMS Group might be sold, according to Bloomberg sources.
It was reported that people familiar with the currently “private” matter have revealed the involvement of Evercore – an investment banking advisory firm that is said to have been brought in to help BMS owners British Columbia Investment Management Corporation (BCI) and Preservation Capital Partners (PCP) evaluate their options, including a potential £600 million sale.
It was in 2019 when BMS secured long-term investment from BCI and PCP. At the time, the broker was valued at around £500 million.
Meanwhile, neither of the firms have confirmed the possible divestment, but the people cited by Bloomberg said deliberations are underway.
Set up in 1980, BMS provides specialist insurance, reinsurance, and capital markets advisory services. Its operations span offices in the US, Canada, Latin America, Australia, Europe, and Asia.