BMS Group, a leading global insurance and reinsurance brokerage, is strategically reinforcing its footprint in the Turkish market through the acquisition of Istanbul-based Oria Sigorta ve Reasürans Brokerliği A.Ş. This acquisition underscores BMS Group’s enduring commitment to Turkey and aligns seamlessly with its broader regional expansion plan, particularly in the Middle East.
About Oria Sigorta ve Reasürans Brokerliği A.Ş.
Established in 2019, Oria has carved out a niche as an independent insurance and reinsurance brokerage, known for its robust expertise in corporate insurance and employee benefits solutions. The firm is helmed by Chairman and owner Cenk Erden alongside partners Özkan Nacar, Remzi Duman, and Fırat Tek. Renowned for its technical proficiency, professional ethos, and client-centric approach, Oria is devoted to tailoring solutions that align with customer needs.
Synergy with BMS Group
The acquisition significantly bolsters BMS Group’s ability to deliver comprehensive, needs-based insurance and reinsurance offerings to clients across the region. By synergizing Oria’s local market acumen with BMS Group’s global reach, the combined entity is poised to offer a more holistic, competitive, and solution-driven suite of services to clients and partners both in Turkey and internationally.
Strategic Growth and Future Prospects
This acquisition marks a pivotal milestone in BMS Group’s vision of global expansion, complementing its recent strategic acquisitions across Europe and the Middle East, including David Roberts & Partners in the UK, Rasher in Spain, and pending regulatory approval, DIFC in Dubai, UAE.
Leadership Perspectives
Nick Cook, CEO of BMS Group, expressed: “The acquisition of Oria is a significant stride in our growth trajectory within the EMEA region. Oria’s talented team, valuable expertise, and robust client relationships will augment our capabilities in Turkey. We warmly welcome them into the BMS family.”
Kerim Gürkan, CEO of BMS Turkey, noted: “This integration of two like-minded organizations is truly remarkable. Having established itself as a leading reinsurance and specialty insurance broker over the past three years, BMS Turkey is now positioned to offer more comprehensive services to a broader client base by joining forces with Oria’s seasoned team. This marks an exciting era for BMS Group, where we will create enhanced value for our industry stakeholders and clients.”
Cenk Erden, Chairman and owner of Oria Insurance, stated: “This strategic alliance merges Oria’s local market insights with BMS Group’s international clout and vision. This natural alignment, grounded in shared values, fortifies our mission to craft solutions that deliver exceptional value to our clients. We are thrilled to join BMS and contribute to this ambitious growth journey.”
Looking Ahead
Cenk Erden and Remzi Duman are set to join the BMS Turkey Board of Directors. The company will continue its operations under the new title, BMS Group Sigorta ve Reasürans Brokerliği A.Ş., marking a new chapter of growth and innovation in the insurance brokerage landscape.
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