BMS Finalizes Largest Acquisition with DR&P Deal
(The Insurer) - Independent (re)insurance intermediary BMS Group has completed the acquisition of UK-based broker David Roberts & Partners (DR&P).
Following completion of the deal, DR&P chief executive John Page and managing director Simon Bland will continue in their roles. Page will now report to BMS Group CEO Nick Cook, and will join the group executive committee.
DR&P and its subsidiary companies will continue to operate under their existing brands.
The transaction marks BMS’s largest acquisition to date and creates a business managing more than £8bn ($10bn) of gross written premiums.
It expands BMS’s presence in the UK, particularly in the retail sector and speciality London markets.
Commenting on the deal, Cook said: “We are delighted to officially welcome DR&P to the BMS Group. The period leading up to the closure has demonstrated how culturally aligned both businesses are, which is the key consideration in our M&A strategy.
"We now look forward to the next phase, combining the expertise of both businesses and working collaboratively to enhance client service across territories and specialisms. John, Simon, and I have ambitious plans to deliver our shared vision ensuring our people, clients, and partners reap the benefits of this relationship.”
