Turkey: BMS to expand its ops with local counterpart

The independent re/insurance broker BMS Group Limited (BMS) said it has entered into a tied representative agreement with Turkish specialist re/insurance broker RONESANS Reasurans ve Sigorta Brokerlik A.S. (RONESANS).

As part of the agreement, RONESANS and BMS will develop a joint marketing plan for Turkey and offer jointly-branded products to clients in Turkey.

As a result of the agreement, RONESANS will facilitate BMS's access to Turkey and neighbouring countries, while BMS will provide mutual clients with know-how and expertise developed during their 30 years as a wholesale reinsurance and insurance broker.

BMS will also offer RONESANS clients access to Lloyd's and the London market.

The agreement will form a model for similar arrangements between BMS Group and select brokers in target geographies.

"Over the past two years, RONESANS and BMS have worked closely together. We realised there was an exciting opportunity to cement our ties to the benefit of BMS, RONESANS and our insureds. Our clients deserve the very best in service and the most comprehensive product offering available. Through this partnership with BMS, we can improve our service and provide just that", said Selva EREN, majority partner and managing director of RONESANS.

"As part of our longstanding international strategy, BMS has been looking to expand into key financial centres in a range of markets across the globe, either directly or through close partnerships and joint ventures. From these hubs, we can better access business in neighbouring countries. We identified Turkey as a target for our ongoing expansion and have been working with RONESANS to provide our signature independent, high-quality service. This agreement further strengthens our relationship with RONESANS and directly provides clients with the excellent service quality and knowledge offered by both our teams, particularly in the energy and construction sectors", said David BATTMAN, head of international at BMS Group.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

A Turkish operational leasing firm acquired MAGDEBURGER Sigorta

Turkish operational leasing company BORLEASE Otomotiv acquired MAGDEBURGER Sigorta, a non-life small insurer owned by two local units of German group ALLIANZ: the non-life unit ALLIANZ Sigorta (80%) and the life and pension company ALLIANZ Yasam ve Emeklilik (20%).

2018-06-07

HOWDEN to acquire majority stake in Turkish broker ACP

HOWDEN, part of HYPERION Insurance Group, announced that it has entered into an agreement to acquire a majority stake in Turkey largest independent re/insurance broker ACP from private equity fund MEDITERRA CAPITAL and existing management shareholders.

2018-04-12

ON THE MOVE

IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.

15.11.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all