BMS Group, an independent re/insurance broker based in London, has made a notable move by acquiring Oria Sigorta ve Reasürans Brokerliği A.Ş., a company located in Istanbul, Turkey. The financial terms of the deal have not been disclosed.
Oria, established in 2019, has quickly gained a strong reputation in the insurance market, particularly in corporate insurance and employee health benefits. This acquisition is part of BMS’s ongoing strategy to strengthen its presence in Turkey and expand its operations in the Middle East and beyond.
Following the acquisition, the Oria team will join BMS Group’s Turkish operations and will operate under the BMS brand. This integration is expected to enhance the services offered to clients, combining BMS’s global reach with Oria’s local expertise. The goal is to provide clients and insurance partners in Turkey and internationally with more comprehensive and competitive solutions.
BMS Group has been active in pursuing strategic acquisitions across Europe and the Middle East. Recent additions to their portfolio include David Roberts & Partners in the UK and Rasher in Spain. They are also looking to establish a presence in the Dubai International Financial Centre, pending regulatory approval.
Nick Cook, CEO of BMS Group, expressed enthusiasm about the acquisition, noting that Oria’s talented team brings valuable expertise and strong client relationships that will enhance BMS’s capabilities in Turkey. Kerim Gürkan, CEO of BMS Turkey, highlighted the synergy between the two companies and emphasized the benefits of combining local insights with international strength.
Cenk Erden, the founder and CEO of Oria, will take on the role of chief growth officer and join the board of BMS Turkey. He remarked that this merger aligns with the shared values of both companies and aims to deliver impactful solutions to their clients.
This acquisition marks an important step for BMS Group as it continues to grow and strengthen its position in the Turkish market and beyond.