Willis Re Finalizes Acquisition of BMS Re US Subsidiaries
Willis Re has officially finalized its acquisition of the US-based subsidiaries belonging to BMS Re. The transaction, confirmed on November 1, 2026, represents a strategic consolidation within the reinsurance brokerage market.
This deal follows other recent activity in the sector, including the Emerge Group’s acquisition of Merlion Insurance Brokers on October 29. The Labuan-based broker has since been rebranded as Emerge Reinsurance Brokers, or Emerge Re.
Broader market trends indicate a shifting landscape for global reinsurers. According to a Gallagher Re market watch report from October 27, the Asia-Pacific region is currently experiencing an influx of capacity, resulting in a buyers market for reinsurance. Simultaneously, the industry is grappling with catastrophe losses, which Gallagher Re reported reached US$92 billion globally through the third quarter of 2026—the lowest figure since 2019. Within the APAC region, the most expensive event was the July Kumamoto earthquake in Japan, which resulted in US$1.3 billion in insured losses and US$8 billion in economic damages.
For insurance professionals, these developments highlight a period of significant structural change. As consolidation reshapes brokerage capabilities and regional capacity dynamics evolve, firms must closely monitor how these shifts influence pricing power and risk appetite in both established and emerging markets.
Why it matters
The acquisition signals ongoing consolidation in the reinsurance brokerage space, which may alter competitive dynamics and service offerings for insurers seeking coverage.
FAQ
What acquisition did Willis Re complete?
Willis Re completed the acquisition of BMS Re’s US subsidiaries.
What is the new name of Merlion Insurance Brokers?
Following its acquisition by Emerge Group, the company has been renamed Emerge Reinsurance Brokers, or Emerge Re.
What was the costliest event in the APAC region through Q3 2026?
The July Kumamoto earthquake in Japan was the costliest event, causing US$1.3 billion in insured losses and US$8 billion in economic losses.
Source: Insurance Asia News. See the original source for full details.
Scan with your phone
Scan with your phone