Spanish market News

BMS Group to Acquire Spanish Broker Rasher and Its Latin American Subsidiaries

BMS Group, the London-based specialist insurance and reinsurance broker, announced that it has entered into an agreement to acquire the leading insurance broker Rasher, subject to regulatory approvals. The Rasher business is based in Spain, with Latin American subsidiaries in …

Bank of Spain Estimates Floods Cost 0.2% of GDP in 4th Quarter

Last month’s catastrophic floods in eastern Spain are likely to have a negative impact of 0.2 percentage points on the country’s gross domestic product in the fourth quarter, the Bank of Spain said on Wednesday. More than 200 people died …

Spain’s Record-Breaking Floods Push Insured Losses Above €4 Billion ($4.2 Billion)

Total insured losses from recent floods in Spain are expected to exceed €4 billion (US$4.2 billion), according to credit rating agency Morningstar DBRS. This insured price tag includes losses absorbed by the Consorcio de Compensación de Seguros (CCS), the state-backed …

Munich Re Specialty to Enter Spanish Insurance Market

Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …

Zurich Insurance to Sell Downtown Madrid Offices for About €100 Million

Zurich Insurance Group agreed to sell its iconic office building in downtown Madrid to a Spanish investment fund for about €100 million ($107 million), underscoring the robust demand for real estate in the city. Investment firm Besant Capital has made …

Miller to Acquire Spanish Specialty Re/Insurance Broker Bruzon

Miller, the London-based specialist re/insurance broker, announced the acquisition of Madrid-based commercial insurance and reinsurance broker Bruzon Correduría de Seguros y Reaseguros S.A. and its subsidiary Bruzon Services S.A., subject to regulatory approval. Financial details of the deal, which is …

Lockton Signs Strategic Partnership With Spanish Re/insurance Broker Jhasa

Lockton, the world’s largest independent insurance broker, announced it has signed a long-term strategic agreement with Jhasa, a Spanish independent insurance and reinsurance broker that specializes in the construction, energy and M&A sectors. Following this agreement, effective immediately, Jhasa will …

Fusion Specialty Europe Launches Branch in Madrid, Led by DUAL’s Cibin

Fusion Specialty Europe announces the launch of its Southern Europe branch in Madrid, and the appointment of Filippo Cibin as partner, effective immediately. Cibin will lead the expansion of Fusion into Southern European, as part of its continued growth strategy …

Long-Term Drought in Spain Expected to Bring More Heatwaves, Wildfires

MADRID (AP) – Spain has officially entered a period of long-term drought, owing to high temperatures and low rainfall over the past three years, and likely faces another year of heatwaves and forest fires. The country’s Aemet weather agency said …

BMS Acquires Spanish Broker Viafina, a Surety Insurance Specialist

BMS, the London-based independent specialty re/insurance broker, announced that BMS Iberia has signed a deal to acquire Seguros Viafina (Viafina), the Spanish specialty insurance and reinsurance broker. The acquisition is set to complete in February 2023, with BMS acquiring Viafina …