BMS Re expands in Latin America with reinsurance broker buy

BMS Re, the specialty reinsurance arm of global broking group  BMS Group, has acquired a Sao Paulo-based reinsurance broker as part of its growth strategy to expand its presence in the Latin American market.

KNW Brokers Corretora de Resseguros (KNW) is a Brazilian reinsurance broker that specialises in offering customised reinsurance solutions to clients in various sectors, including energy, property, construction, marine, clinical trials, and fine arts.

BMS Re said the acquisition marks its ambition to grow its Latin American re/insurance business with the  promotion of Juan Carlos Gomez to CEO of BMS Re Latin America and Caribbean earlier this year, the acquisition of Mexico City-based specialist reinsurance broker, Calomex, in 2022, and of PWS Mexico in 2021.

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.

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 commented: “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.”

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