[ad_1]
BMS, an independent specialist re/insurance broker based in London, announces that it has entered into an agreement to acquire a majority stake in Berns Brett Masaood (BBM), a leading UAE insurance broker founded in 2007 and headquartered in Abu Dhabi Dhabi and Dubai.
Financial details of the transaction were not disclosed.
BBM has expanded significantly in recent years to provide a wide range of risk transfer solutions for large and complex projects across many industries, providing specialist services to corporate and government entities in the energy, institutional and affinity sectors. Subject to regulatory approval, BBM will be renamed BMS Masaood.
“We have been very keen to create a hub in this important financial district and have supported BBM for some time. We are therefore delighted to formalize our partnership,” commented Peregrine Towneley, Chairman of BMS International.
“BBM is very well positioned for future growth and is actively looking to expand into new specialist areas, which complements our specialist London practice. Their focus on these specialties and their people and client-centric approach It perfectly complements our own philosophy,” Towneley added.
“The BBM team has a deep knowledge of the region which will be a great asset to BMS as we look to further strengthen our expertise in the market,” he said.
“Partnering with BMS allows us to expand our global footprint and continue to effectively manage customer demand. BMS has a wealth of expertise and provides us with the capital we need to expand and grow,” said Vedanta Baruah, CEO of BBM. “We are excited to join the BMS team and look forward to future developments.”
Source: BMS
theme
mergers and acquisitions
Is this article worthwhile?
Here are more articles you might like.
interested in merger?
Get automatic alerts on this topic.
[ad_2]
Source link
