BMS, the independent specialist insurance and reinsurance broker has acquired SRG Group, the Australian corporate retail broker with operations in Perth and Queensland.

This comes ten months after BMS Re launched in Bermuda to expand its global footprint.

Founded in 2005, SRG is a mature, multi-award winning insurance brokerage that provides high-quality brokerage services to many clients in Australia. BMS has acquired SRG in full, with staff transferring to BMS. The acquisition complements BMS’s existing operations across Australia and brings additional scale.

Andrew Godden, chief executive of BMS’s Australian business, was pleased to welcome the SRG team to BMS.

“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,” Mr Godden said.

BMS chief executive officer, Nick Cook, said: “This is the seventh acquisition made by BMS in the past two years, further accelerating the expansion of our international network. SRG brings additional strength to our operations in Western Australia and balances our existing strong eastern presence. 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. I am very pleased to welcome our new colleagues to the global BMS team.”

Rod Fitzgerald, managing director SRG said: “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. 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. We are excited by the opportunity that being part of BMS brings.”