Broking group BMS has announced that its Spanish subsidiary, BMS Iberia, has acquired Jurado Mata, the Granada-based Spanish specialist insurance broker.
The acquisition has been completed via its Spanish subsidiary, BMS Iberia, although the value of the transaction was not disclosed.
BMS Iberia is seen as the keystone entity for BMS’s European operations. The broker said the acquisition will strengthen BMS Iberia’s presence in southern Spain and BMS Iberia is expected to become one of the top affinity brokers in the country.
Founded in 1990, Jurado Mata provides a range of affinity, commercial and personal lines solutions to a range of Spanish clients. BMS has acquired Jurado Mata in full, with staff and infrastructure transferring into BMS Iberia. Juan Mata, CEO of Jurado Mata, will also join BMS Iberia’s board of directors once the integration is complete.
Fernando Claro,(pic) CEO of BMS Iberia, said: “Jurado Mata is an excellent specialist broker with a fantastic market reputation and a great match for BMS Iberia, BMS’s main European platform. Jurado Mata clients will benefit from BMS’s global reach and BMS is set to solidify its leading affinity position in Spain through Jurado Mata’s networks. We look forward to working with the Jurado Mata management and their excellent team in achieving our strategic expansion plan across Europe and beyond.”
Juan Antonio Mata, president at Jurado Mata, said: “We have seen a significant increase in demand for specialised advisory services in the insurance market. With BMS’s extensive insurance sector experience and global platform, as well as Jurado Mata’s local resources, we are well placed to meet this growing demand. We are confident that, together, we have the scale and capabilities to drive the next stage of our growth both inside Spain and further afield and I’m therefore excited to work with Fernando, all of BMS Iberia and the BMS head office team in London.”