BMS, London-based independent specialty insurance and reinsurance broker, announced it has signed a deal to acquire Eisenar, the Spanish specialty insurance broker.
The terms of the acquisition were not disclosed.
Eisenar was founded in 2001 by Eugenio Sanchez-Belda and is headquartered in Seville with a second office in Madrid. It specializes in industrial risks and professional sports insurance, with Seville Football Club as one of their flagship clients. Eisenar also has expertise in hotel & restaurants insurances, agriculture insurance (agroseguro), surety, renewable energies, cyber, construction and manufacturing solutions.
Sanchez-Belda’s son Carlos Sanchez-Belda and daughter Maria del Mar Sanchez-Belda currently chief executive officer (CEO) and managing director, respectively, will lead the business alongside Francisco Gomar, the existing technical director. Carlos Sanchez-Belda will join as chief commercial officer, reporting directly to Fernando Claro, CEO of BMS Iberia, becoming a member of the Executive Committee of BMS Iberia. Eugenio Sanchez-Belda will be invited to join the BMS Iberia Advisory Board.
“For the past 20 years Eisenar has had an exemplary track record in Spanish specialty insurance and following this acquisition its future is bright. We will continue to lead the business and look forward to incorporating our successful business model into the BMS group,” commented Carlos Sanchez-Belda.
“The entire Eisenar team are delighted to join BMS Iberia, and with their global presence and expertise, we will continue to innovate and provide the best-in-class service to our clients,” he added.
“We are a top-five affinity broker in Spain, and we are also making investments into other specialty areas. Eisenar’s family-run culture is one of their most important strategic assets,” said Claro.
“Their young and dynamic leadership team will be instrumental in consolidating our market presence, by driving the development of innovative solutions that are customised to the needs of each affinity and client. We are delighted to welcome colleagues from Eisenar on board,” Claro continued.
This agreement is subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones (DGSFP).
Source: BMS Group
Mergers & Acquisitions
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