BMS Group Limited (“BMS”), the independent specialist insurance and reinsurance broker, today announces it has entered into a tied representative agreement with Turkish specialist (re)insurance broker Rönesans Reasürans ve Sigorta Brokerlik A.Ş. (“Rönesans”).
As part of the agreement, Rönesans 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, Rönesans 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 Rönesans 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.
Selva Eren, majority partner and managing director of Rönesans Reasürans ve Sigorta Brokerlik A.Ş, said:
“Over the past two years, Rönesans and BMS have worked closely together. We realised there was an exciting opportunity to cement our ties to the benefit of BMS, Rönesans 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.”
David Battman, head of international at BMS Group, said:
“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 Rönesans to provide our signature independent, high-quality service.
This agreement further strengthens our relationship with Rönesans and directly provides clients with the excellent service quality and knowledge offered by both our teams, particularly in the energy and construction sectors.”