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BMS signals growth ambitions after SRG deal

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UK-based specialist insurance and reinsurance broker BMS Group says it plans to further expand in Australia following its latest acquisition.

The company last week said it had acquired SRG Group in full, complementing its existing operations across the country and adding scale. Staff will transfer to BMS.

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 is based in Perth and also has a Gold Coast office.

“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.

The SRG deal represents the seventh acquisition by BMS in the past two years, accelerating the expansion of its international network.

“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,” SRG MD Rod Fitzgerald said.

“Our decision to partner with BMS stems from the clear alignment between our two cultures and shared ambition that is so important to success in this market.”