Reinsurance brokerage BMS Group has concluded the acquisition of Spanish insurance broker Rasher following the receipt of regulatory approvals.
The deal, whose financial terms remain undisclosed, was announced in December 2024.
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The move is expected to enhance BMS Group’s capabilities in Iberia and Latin America.
Rasher is known for its expertise in surety, credit, finance and risk management solutions for corporate clients.
The company is based in Spain, with subsidiaries in Colombia and Peru.
Gabriel Raya, the former CEO of Rasher, will take on the role of chief growth officer at BMS in Iberia and join the BMS Iberia board of directors immediately.
In the new role, he has been tasked with driving the expansion of Rasher’s Latin America subsidiaries.
BMS Group CEO Nick Cook said: “We are excited to officially welcome Rasher to BMS Group. Expanding our global platform and capabilities remains a key priority in our growth strategy, and bringing Rasher on board is a significant step forward. In addition, Gabriel’s wealth of experience and expertise will be invaluable as we continue to grow together. We look forward to the journey ahead.”
Raya added: “Joining BMS Group is a very exciting step for Rasher and we look forward to exploring new opportunities with our clients in each region, relying on the capabilities of BMS Group.”
In December 2024, BMS also completed the acquisition of UK broker David Roberts & Partners (DR&P), initially announced in July 2024.
This transaction is reported to be BMS’ largest acquisition to date, creating a business that manages more than £8bn ($10.35bn) in gross written premiums.
Set up in 1980, BMS Group offers insurance, reinsurance and capital markets advisory services, with offices across the US, Canada, Latin America, Australia, Europe and Asia.
