Specialist insurance and reinsurance broker BMS has acquired Perth-based SRG Group, strengthening its presence in WA as part of wider regional growth plans.
UK-headquartered BMS says the acquisition of SRG, which it has acquired in full, complements its existing operations across Australia and brings additional scale.
“We have significant growth ambitions in Australia and will continue to expand our operations in the short and medium term with additional people, teams and businesses that bring expertise and shared values,” BMS’s Australian business CEO Andrew Godden said.
SRG was founded in 2005 and offers corporate and small business broking and claims management services. AUB Group in 2009 acquired a 50% stake in the business, which also has an office on the Gold Coast.
BMS Group CEO Nick Cook says SRG is the seventh acquisition made by the company in the past two years, accelerating the expansion of its international network.
“SRG brings additional strength to our operations in Western Australia and balances our existing strong eastern presence,” he said.
“SRG’s values align perfectly with those of BMS with great emphasis placed on the professional and personal development of people, which leads to a strong client-focused ethos and a spirit of common purpose.”
The international firm was established in 1980 in London and now has offices in the US, Canada, Latin America, Australia, Europe and Asia, it says on its website.
SRG MD Rod Fitzgerald says the decision to partner with BMS stems from a clear alignment between the two cultures and shared ambition that is important to success in the market.
“We are all delighted to be joining BMS, which brings us access to the resources and distribution of a global broker that we can bring to bear for the benefit of our rapidly growing customer base,” he said.
