BMS acquires its first Australian agency

BMS acquires its first Australian agency | Insurance Business Australia

Insurance News

BMS acquires its first Australian agency

“Excellent underwriting capabilities,” says boss

Insurance News

By
Daniel Wood

BMS Group, a global insurance brokerage, has acquired ALE underwriting, a firm described in a media release as “the leading MGA for hospitality in Australia.” The release also said the purchase is the first agency acquisition by BMS in Australia.

The investment is part of a wider deal acquiring GARD Insurance, an underwriting agency with offices in Sydney, Melbourne and Brisbane.

“Buying an MGA in Australia is aligned with our global strategy to diversify our international retail operations,” said Andrew Godden (pictured above), CEO of BMS Australia. “Both GARD and ALE have excellent underwriting capabilities.”

As part of the deal, GARD’s non-executive chair, Craig Patterson, is joining BMS.

“We look forward to being part of a global speciality organisation with extensive risk expertise and market knowledge, and to the added capital,” said Patterson, whose previous experience includes senior roles at Austagencies, AON, Aviva and CGU.

GARD, according to the release, was founded in 2015 and provides public and products liability and professional indemnity (PI) insurance to a range of businesses through brokers.