Financials - BMS's 30th anniversary year in 2010 was a year of investment and progress that saw BMS break through the £50m ($83m) revenue mark. This is testament to the renewed momentum and determination within the group to deliver best in class service to our clients within our Reinsurance, Wholesale & Direct insurance divisions.
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Despite softening pricing, our North American treaty business performed well on both sides of the Atlantic, posting income growth of 11%.
Overall revenues in this segment were up 4% on 2009 with Marine & Aviation Finance generating 6% revenue growth with our Direct Marine business holding revenues at 2009 revenues.
In November 2010 we hired a new leader for our Wholesale business area and we anticipate new sources of revenue for 2011.
We made some significant investments in new hires to complement the breadth of our broking operations and to strengthen the management team. In addition we have invested in initiatives to improve our revenue streams on our portfolio, to invest in our people and our market proposition.