BMS has entered an agreement to acquire a majority share in United Arab Emirates insurance broker Berns Brett Masaood (BBM).
The mandate will mark the launch of BMS’ operations in the Middle East. On completion of the mandate, BBM will be known as BMS Masaood.
BBM provides risk transfer solutions for large complex programmes across many industries. Its specialisms are energy, institutional and affinity sectors for corporate and government entities.
Peregrine Towneley, chairman of international operations at BMS, says: “We have been very keen to develop a hub in this key financial region and have supported BBM for some time.”
Towneley adds: “BBM is extremely well positioned for future growth and is actively looking to expand into new specialisms which are complementary to our specialty London operations. Their focus on these specialisms, alongside their people-first and client-centric approach, perfectly complements our own philosophy. ”
