BMS Re, the specialty reinsurance arm of the global broking group BMS, has announced the acquisition of Sao Paulo-based reinsurance broker, KNW Brokers Corretora de Resseguros Ltd (KNW).
The Brazilian reinsurance broker has deep expertise in providing tailored reinsurance solutions to its clients on traditional and specialised segments such as, energy, property, construction, marine, clinical trials and fine arts.
It excels in placing Brazilian reinsurance risks and portfolios, BMS Re stated, which makes it an ideal partner for BMS Re’s existing Brazil office.
KNW’s executive team of Márcio Ribeiro, CEO; Rafael Abad, CFO; will work alongside Jose Leão, CEO of BMS Re Brazil, on the integration of the two companies.
According to the announcement, this acquisition further marks an acceleration in BMS Re’s ambition to grow its Latin American re/insurance business.
Earlier in the year, Juan Carlos Gomez was promoted to CEO of BMS Re Latin America and Caribbean; and in 2022 BMS Re acquired Mexico City-based specialist reinsurance broker, Calomex, and PWS Mexico in 2021.
Commenting on the move, Leão said: “The acquisition of KNW aligns perfectly with BMS vision of growth, as we expand, we are prioritising strategic acquisitions with a focus on the right people, who are aligned with our culture, business model and adding value to our proposition offering to clients.
“KNW team’s excellent reputation in Brazil will greatly complement our existing team and further cement our position as the reinsurance broker of choice to our clients and partners. I am excited to welcome Marcio and his team to BMS Re.”
Abad added: “BMS Re is renowned for combining a wide range of competitive and innovative reinsurance solutions with an in-depth knowledge of its markets and clients. All of us at KNW are thrilled by the move and are pleased and excited in being part of the BMS group.”
