BMS Group, the independent specialist insurance and reinsurance broker, has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd and O’Neil Insurance.
Led by president Jeff Smith and vice-president Dan Reid, the brokerage provides expertise in specialised lines of business, including construction, real estate portfolios, oil and petrol distribution and auto dealerships. The two executives will work with Brian Gomes, president & CEO of BMS Group, Canada to integrate the businesses.
The acquisition provides BMS with the opportunity and platform to expand into specialty retail in the country. BMS is well known for its Affinity, Captive Management and Capacity Distribution expertise in Canada. Smith & Reid and the BMS leadership have known each other for many years, and this partnership fits exactly with the BMS strategy of ensuring cultural alignment, developing deep specialisms and putting clients’ needs at the heart of all that they do.
Gomes said: “The acquisition of Smith & Reid supports our long-term, high growth strategy in Canada. Its excellent reputation in Ottawa and beyond complements BMS’s ambitions to acquire companies that offer the highest levels of customer service suited to a global business while backed by exceptional local talent. I am excited to work with Jeff and Dan and I’m certain the transition will be seamless.”
Smith added: “BMS is a name synonymous with clear specialisms and deep expertise, the move is an exciting proposition for us as a team and our clients.”
Reid commented: “Having worked with Brian in the past, I’m particularly excited to see our teams coming together, not only for what this means in terms of delivering on the kind of culture Jeff, Brian and I pride ourselves on, but what it means for our clients.”