BMS snaps up Spanish broker to expand specialty lines in Europe

Specialist re/insurance broker BMS Group, through its Spanish subsidiary BMS Iberia, has acquired Malaga-based specialist insurance broker Montymarq Asociados Consultores y Corredores de Seguros.

BMS Iberia is a key operation for the broker's European business. Montymarq is the second entity acquired by BMS in Spain this year after Jurado Mata, a Granada-based Spanish specialist insurance broker.

Montymarq specialises in business, professional and affinity risks in Spain.

Montymarq will join the BMS Iberia operation upon completion of acquisition and Juan de Montes will become non-executive chairman of BMS Iberia.

Fernando Claro, CEO of BMS Iberia, said: “BMS Iberia is growing strategically: we have identified significant opportunities in several key specialty areas and we are well-positioned to be one of the top specialist brokers in Spain. Montymarq’s expertise and market-leading talent in the professional, personal and liabilities risk space meaningfully complement our current growing practice. I look forward to working with Juan and the team and taking our regional business to the next stage of growth.”

Juan de Montes commented: “BMS Iberia has a well-deserved reputation in the Spanish market and we share its ambition to establish the business as the best-regarded independent specialist broker in the region. BMS’s global network, combined with our local expertise, will benefit the existing clients of both BMS Iberia and Montymarq. We look forward to working closely with the BMS Iberia team and continuing to provide high-quality and comprehensive services to our clients.”