BMS Group, an independent reinsurance specialist based in London, recently announced the appointment of Spencer Pearce (pictured right) as its new Chief Mining Officer. Practice Head, effective November 2024. The company said the move aims to strengthen and expand BMS Group’s presence in the mineral extraction industry.

As the new Head of Mining Practice, Pierce will report directly to Chris Ritchie, Director of International Direct, Optional and Global Risk Management.

According to the company’s statement, Pierce will be responsible for expanding BMS’s mining practices into new regions and will work to enhance the company’s offerings by integrating complementary product lines that add significant value to BMS’s diverse customer base.

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Pierce has three decades of experience in the reinsurance sector, having held underwriting and brokerage positions.

Pierce began his career in underwriting at companies such as AXA, AIG and Chubb, specialising in mining and power generation. He moved into brokerage in the early 2000s and worked with clients across the globe, working at Marsh, Aon and JLT. Pierce then joined Canopius, where he moved to Lloyds to establish new business lines, before eventually becoming responsible for all natural resources businesses, including construction.

Ritchie said Pierce’s experience will be instrumental in BMS Group’s goal of expanding its presence in the mining sector.

“Spencer’s extensive experience in managing complex insurance solutions and strengthening client relationships will be instrumental in driving BMS forward, especially as we look to further expand our geographical reach – we can’t wait for him to get up and running,” said Ritchie.

“I am very pleased to be joining BMS, a firm I have admired for some time. I look forward to bringing my brokerage and underwriting experience to join this dynamic, fast-growing and collaborative firm,” said Pierce.

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