UAE: BMS to launch Middle East operations with majority stake in local broker
Source: Middle East Insurance Review | May 2023
BMS, the independent specialist insurance and reinsurance broker, has entered into an agreement to acquire a majority share in Berns Brett Masaood (BBM), a UAE insurance broker established in 2007.
Headquartered in Abu Dhabi and Dubai, BBM has expanded significantly in recent years providing extensive risk transfer solutions for large complex programmes across many industries, with specialisms in energy, institutional and affinity sectors for corporate and government entities.
After the completion of the deal, which is subject to regulatory approvals, BBM will be known as BMS Masaood.
The size of the stake in BBM and the financial details of the deal are undisclosed. M