BMS Group has acquired Istanbul-based Oria Sigorta ve Reasürans Brokerliği, increasing its presence inside the Turkish insurance coverage sector.
Monetary phrases of the deal stay undisclosed.
The transfer is a part of BMS Group’s plan to increase its attain into the Center East and improve its capabilities in offering client-focused options.
Established in 2019, Oria affords company insurance coverage and worker well being advantages options.
The acquisition is predicted to deliver extra “aggressive” and “holistic” companies to each native and worldwide shoppers, and insurance coverage companions.
BMS Turkey CEO Kerim Gürkan mentioned: “That is an integration of two like-minded companies. Over the previous three years, BMS has established itself in Turkey as a number one specialty dealer with robust worldwide capability. Now, by becoming a member of forces with Oria’s skilled workforce and native perception, we enter an thrilling new chapter – broadening our consumer base and deepening the worth we deliver to each shoppers and insurance coverage companions, regionally and globally.”
Oria proprietor and chairman Cenk Erden, together with govt vice-president Remzi Duman, will be part of the Board of BMS Turkey.
The mixed operations will function beneath the identify BMS Group Sigorta ve Reasurans Brokerligi.
Erden added: “This partnership brings collectively Oria’s native market information with BMS’s worldwide energy and imaginative and prescient. It’s a pure match constructed on shared values and a dedication to delivering high-impact, high-value options. We’re thrilled to affix BMS and contribute to its formidable progress journey.”
This continues BMS Group’s acquisition spree, which incorporates David Roberts & Companions within the UK and Rasher in Spain.
Moreover, BMS Group is planning to foray into the Dubai Worldwide Monetary Centre, pending regulatory approval.
Final month, BMS Group appointed Jean-Jacques Henchoz as Board chairman, efficient 1 Might.
