BMS Group, a global brokerage firm, has announced an agreement to buy a West Australian insurance company. Western United Financial Services (WUFS), said a BMS media release, is a specialist broker with insurance, risk management and claims handling services.
“The acquisition of Western United Financial Services presents another step in the expansion of BMS in Australia and, as well as providing us with more depth in some specialties, it also gives us access to additional ones such as hospitality and transport,” said BMS Australia CEO, Andrew Godden (pictured above).
The release said BMS is acquiring WUFS “in full”. All staff and infrastructure are transferring into the BMS Australia business, including Brett Waterman (pictured below), the current head of the WA firm.
The release said Waterman, who is a former president of WA’s National Insurance Brokers Association (NIBA), “will remain in a leadership role after the acquisition and will lead the BMS business in Western Australia.”
Waterman described the acquisition of his firm as “an exciting transition.”
“This deal will provide us with the advantages that come with being part of a global speciality broking organisation with significant risk expertise, depth of market knowledge and highly regarded technology platforms,” he said.
BMS has made a number of recent acquisitions in Australia.
