Independent specialist insurance and reinsurance broker BMS Group has agreed to acquire Spain-based insurance broker Rasher, and its Latin American subsidiaries in Colombia and Peru, subject to regulatory approvals.
According to BMS Group, through this acquisition, Rasher, known for providing surety, credit, and risk management solutions to corporate clients, will accelerate its expansion and recruiting efforts while continuing to execute its growth strategy under its leadership team. The firm also observed that this acquisition cements its own place as a leading insurance and reinsurance specialty broker in Iberia, with offices in Madrid, Seville, Cordoba, Valencia, Malaga, Granada, and Pamplona, and expands its Latin American footprint in Colombia and Peru.
Gabriel Raya, CEO of Rasher, will reportedly serve as Chief Growth Officer of BMS in Iberia, and will be responsible for the management and expansion of Rasher’s subsidiaries in Latin America, and will be appointed to the Board of BMS Iberia.
Raya commented, “The culture and philosophy of BMS makes this a perfect fit. We know the team very well and we believe that they will help us achieve our next stage of growth and expand our client services in each region.”
Nick Cook, Group CEO, BMS said, “I am excited by this acquisition. The strategic fit with BMS specialisms, growth culture and ambition to deliver exceptional client solutions makes this a superb partnership and I expect this business to achieve huge success with BMS support in the coming years. Gabriel and his team have exceptional capability and well-earned reputations in their markets.”
