BMS Associates Ltd., the holding company for brokerage BMS Group Ltd. and underwriting business Pioneer Underwriting Ltd., has been renamed Minova Insurance Holdings Ltd., the company announced Monday.
The London-based company said the move came on completion of a deal under which Capital Z Partners Management L.L.P. will invest $50.7 million to help grow the company
“As we launch Minova Insurance, we are delighted to welcome Capital Z as a shareholder and valuable partner to the group,” Dane Douetil, group CEO of Minova Insurance, said in a statement.
“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,” he said.