BMS has announced that it has signed a deal to acquire Spanish specialty insurance broker Eisenar in a move that will further bolster its Iberian regional expansion.
Founded in 2001 by Eugenio Sanchez-Belda, Eisenar is headquartered in Seville and specialises in industrial risks and professional sports insurance, with Seville Football Club as one of its flagship clients. It also has a second office in Madrid.
The firm suggests that it has expertise in Hotel & Restaurant insurances, Agriculture insurance, Surety, Renewable Energies, Cyber, Construction and Manufacturing Solutions.
Eugenio Sanchez-Belda’s son and daughter, Carlos Sanchez-Belda and Maria del Mar Sanchez-Belda, who are CEO and managing director respectively, will lead the business alongside Francisco Gomar, the existing technical director.
Carlos Sanchez-Belda is set to join as chief commercial officer and will report directly to Fernando Claro, CEO of BMS Iberia. He will also become a member of the Executive Committee of BMS Iberia, while founder Eugenio Sanchez-Belda will be invited to join the BMS Iberia Advisory Board.
Claro commented, “This is an important part of the journey for BMS Iberia which reinforces our reputation as a fast-growing and specialist (re)insurance broker. We are a top-five affinity broker in Spain, and we are also making investments in other specialty areas.
“Eisenar’s family-run culture is one of their most important strategic assets. Their young and dynamic leadership team will be instrumental in consolidating our market presence, by driving the development of innovative solutions that are customised to the needs of each affinity and client. We are delighted to welcome colleagues from Eisenar on board.”
Carlos Sanchez-Belda added, “For the past 20 years Eisenar has had an exemplary track record in Spanish specialty insurance and following this acquisition its future is bright.
“We will continue to lead the business and look forward to incorporating our successful business model into the BMS group. The entire Eisenar team are delighted to join BMS Iberia, and with their global presence and expertise, we will continue to innovate and provide the best-in-class service to our clients.”
The agreement will be Subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones.