Independent specialist re/insurance broker BMS Group has announced its agreement to acquire Rasher, a Spain-based insurance broker with operations in Colombia and Peru.
The acquisition, which is subject to regulatory approvals, will expand BMS Group’s presence in the Iberian and Latin American markets.
Rasher specializes in surety, credit, and risk management solutions for corporate clients. The company employs 90 staff members who design, implement, and manage insurance programs, as well as provide advisory and claims services.
According to BMS, the acquisition will support Rasher’s growth and recruitment efforts while enabling the company to continue executing its established growth strategy.
BMS stated that the transaction strengthens its capabilities in surety and enhances its client offerings, particularly for global infrastructure and construction projects. This acquisition also consolidates BMS Group’s position as a leading specialty broker in Iberia, where it has offices in Madrid, Seville, Cordoba, Valencia, Malaga, Granada, and Pamplona.
Additionally, it expands BMS’s reach in Latin America through Rasher’s subsidiaries in Colombia and Peru.
Gabriel Raya (pictured above), CEO of Rasher, will take on the role of chief growth officer of BMS in Iberia. He will also oversee the management and expansion of Rasher’s Latin American subsidiaries and join the board of BMS Iberia.
This acquisition also follows other recent M&A activity by BMS Group, including its agreement to acquire UK-based broker David Roberts & Partners, announced in July 2024.
Nick Cook, CEO of BMS Group, described the transaction as a strategic fit for the company, aligning with its specialties and growth ambitions.
“The strategic fit with BMS specialisms, growth culture and ambition to deliver exceptional client solutions makes this a superb partnership and I expect this business to achieve huge success with BMS support in the coming years. Gabriel and his team have exceptional capability and well-earned reputations in their markets,” Cook said.
Raya also commented on the alignment of BMS’s culture and philosophy with Rasher’s goals.
“The culture and philosophy of BMS makes this a perfect fit. We know the team very well and we believe that they will help us achieve our next stage of growth and expand our client services in each region,” Raya said.
What are your thoughts on this story? Please feel free to share your comments below.
