BMS, the independent specialist re/insurance broker, has appointed Monica Tigleanu as divisional director, cyber strategy.

Pending regulatory approval, Ms Tigleanu will be based in Bermuda and will report to Adam Mullan, executive chairman of BMS Re Bermuda, and indirectly to Chris Madell, managing director of financial and professional lines at BMS.

The company said Ms Tigleanu’s primary focus will be to future-proof the company’s cyber strategy by developing innovative products tailored for the ever-evolving cyber-risk landscape. She will leverage her global network to bring together new capacity from various insurance hubs and spearhead the creation of distinctive facilities offering coverage that is unavailable in the market.

Ms Tigleanu has worked in the cyber insurance market for more than ten years as both an underwriter and broker.

She joins BMS from her most recent role as a senior cyber underwriter at Munich Re. Prior to this, she worked as a cyber property damage leader at Marsh.

Ms Tigleanu has also held senior positions at companies such as Beazley, AIG and Travelers and she sits on Relay’s board of advisers.

She began her insurance career as a key contributor to financial lines underwriting, including cyber, directors and officers, and financial institutions errors and omissions and crime. Since then, she has focused on analysing a variety of cyber exposures across industry sectors and on providing bespoke risk management solutions.

Mr Mullan said: “Monica’s track record is nothing short of impressive. Her knowledge of the market combined with her innate ability to effectively help clients understand cyber-risk will be a major asset to BMS. Her expertise complements our broader risk advisory capabilities, enabling us to continue helping our clients with their risk management goals.”

Mr Madell added: “Cyber is a class that has a lot of capacity for product innovation. We are committed to staying at the forefront of this complex class and to raising awareness of the underlying risk while at the same time offering bespoke solutions to our clients.

“It is a pleasure to welcome Monica to the team, her vast amount of experience on both the underwriting and broking side make her well placed to understand the challenges and opportunities present in the market.”