Specialist re/insurance brokerage BMS Group has announced its acquisition of two Canadian broking firms, Smith & Reid Insurance Brokers Ltd and O’Neil Insurance.
Ottawa-based Smith & Reid, led by president Jeff Smith and vice-president Dan Reid, provides expertise in specialised commercial lines, including construction, real estate, oil and petrol distribution, and auto dealerships.
The two executives will work with Brian Gomes, president and CEO of BMS Group, Canada to integrate the businesses.
The acquisition provides BMS with the opportunity and platform to expand into specialty retail in the country.
“The acquisition of Smith & Reid supports our long-term, high growth strategy in Canada,” said Gomes. “Its excellent reputation in Ottawa and beyond complements BMS’s ambitions to acquire companies that offer the highest levels of customer service suited to a global business while backed by exceptional local talent. I am excited to work with Jeff and Dan and I’m certain the transition will be seamless.”
“BMS is a name synonymous with clear specialisms and deep expertise, the move is an exciting proposition for us as a team and our clients,” said Smith.
Reid also commented: “Having worked with Brian in the past, I’m particularly excited to see our teams coming together, not only for what this means in terms of delivering on the kind of culture Jeff, Brian and I pride ourselves on, but what it means for our clients.”
On the other hand, Ontario broker O’Neil Insurance serves a range of personal and business lines, including home and auto, recreational vehicle, hospitality, realty, construction, manufacturing, and transportation, among others.
BMS is known for its affinity, captive management, and capacity distribution expertise in Canada.
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