Specialist re/insurance broker BMS Group has acquired Australian firm GARD Insurance, which includes hospitality MGA ALE underwriting.
GARD non-executive chairman Craig Patterson will join BMS as executive chairman of GARD, with a remit to grow and expand the acquired business.
Patterson is a seasoned industry operator with a wealth of experience gained from senior roles at Austagencies, AON Benfield, Aviva in the UK and CGU/NZI.
This announcement is the latest in a string of recent acquisitions by BMS in Australia and is the first one involving an MGA.
GARD was founded in 2015 and provides public and product liability and associated professional indemnity insurance to a range of businesses from small to medium enterprises (SMEs) through to multinational businesses.
It has offices in Sydney, Melbourne and Brisbane where it provides its products to all licensed brokers.
ALE is the leading MGA for hospitality in Australia, with a focus on property and casualty cover for hotels and pubs, licensed clubs, bars, restaurants, caravan parks, alpine accommodation, backpackers, modern short-term accommodation, boarding houses and one-off events. ALE’s bespoke IT platform is offered exclusively to select brokers.
Andrew Godden, chief executive of BMS’ Australian business, commented, “Buying an MGA in Australia is aligned with our global strategy to diversify our international retail operations.
“Both GARD and ALE have excellent underwriting capabilities and a stellar leadership team in Craig Patterson, Craig Walker, Dean Fiddes and Janelle Cox.
“We share the same vision on growth, and I am excited to work with them to take our business to the next level.”
Patterson added, “ALE and GARD share similar cultural DNA with BMS, which is what makes this an exciting milestone.
“We look forward to being part of a global speciality organisation with extensive risk expertise and market knowledge, and to the added capital that will allow us to expand into more technical, niche segments that complement our current offering.”
