BMS Group has completed its acquisition of Rasher, a specialist insurance broker focused on surety, credit, finance, and risk management solutions for corporate clients.
The transaction, which received regulatory approval, expands BMS’s presence in Iberia and Latin America. Rasher, headquartered in Spain, operates subsidiaries in Colombia and Peru.
Following the acquisition, Rasher CEO Gabriel Raya will take on the role of chief growth officer for BMS in Iberia. He will oversee the expansion of Rasher’s operations in Latin America and join the board of directors of BMS Iberia, effective immediately.
Announced in December, BMS said that the deal consolidates the company’s position as a leading specialty broker in Iberia, where it has offices in Madrid, Seville, Cordoba, Valencia, Malaga, Granada, and Pamplona.
BMS Group CEO Nick Cook (pictured above) said that adding Rasher strengthens BMS’ international presence and that Raya’s experience will contribute to the firm’s continued growth.
The company’s expansion in the LatAm market also follows a global trend, with BMS Group also securing deals in other regions.
In February, BMS Re, the group’s reinsurance specialist, expanded its London team with the appointments of Jonathan Hughes and Martin Bartell to its non-marine insurance division.
The same month also saw the addition of Genna Biddell as managing director and head of London P&C Re. She joins BMS from a managing director role within the North America wholesale property treaty team at Howden Re.
November last year saw BMS Group announce the appointment of Ryan Phillips as director and African practice leader.
Phillips officially joined the firm this month, operating out of the company’s London office and reporting to Paul Galvin, director. His responsibilities cover the African continent which currently serves clients primarily in South Africa.
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