View this article online: https://www.insurancejournal.com/news/international/2020/03/24/562122.htm
BMS Group, the independent specialist re/insurance broker, announced its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker.
Financial details of the transaction were not disclosed.
Founded in 1990, Jurado Mata has provided a range of affinity, commercial and personal lines solutions to a range of Spanish clients. BMS has acquired Jurado Mata in full, with staff and infrastructure transferring into BMS Iberia.
Juan Mata, CEO of Jurado Mata, will also join BMS Iberia’s board of directors once the integration is complete.
BMS Iberia is the Spanish subsidiary of BMS Group and the keystone entity for BMS’ European operations. The acquisition will strengthen BMS Iberia’s presence in southern Spain and BMS Iberia is expected to become one of the top affinity brokers in the country, said BMS in a statement.
“Jurado Mata is an excellent specialist broker with a fantastic market reputation and a great match for BMS Iberia, BMS’s main European platform,” said Fernando Claro, CEO of BMS Iberia.
“Jurado Mata clients will benefit from BMS’ global reach and BMS is set to solidify its leading affinity position in Spain through Jurado Mata’s networks,” added Claro.
“We have seen a significant increase in demand for specialized advisory services in the insurance market. With BMS’s extensive insurance sector experience and global platform, as well as Jurado Mata’s local resources, we are well placed to meet this growing demand,” commented Juan Antonio Mata, president of Jurado Mata.
“We are confident that, together, we have the scale and capabilities to drive the next stage of our growth both inside Spain and further afield, and I’m therefore excited to work with Fernando, all of BMS Iberia and the BMS head office team in London,” he added.
Source: BMS