BMS has announced that it will be launching its Middle East operations with the acquisition of Berns Brett Masaood (BBM), a UAE insurance broker specialising in energy, institutional, and affinity sectors for both corporate and government. Pending regulatory approvals, this new business will proceed as BMS Masaood.
BMS chairman of international operations Peregrine Towneley said that this move is in line with the specialist insurer’s plans to develop a hub in this key financial region.
“BBM is extremely well positioned for future growth and is actively looking to expand into new specialisms which are complementary to our Specialty London operations. Their focus on these specialisms alongside their people-first and client-centric approach perfectly complements our own philosophy. The BBM team has a deep understanding of the region, which will be a great asset to BMS as we look to further our expertise in the market,” Towneley said.
Earlier this year, investment company Eurazeo announced that it will acquire as much as 34% in BMS Group’s share capital, equal to £355 million.
What are your thoughts on this story? Please feel free to share your comments below.
