BMS acquires retail broker SRG Group

BMS acquires retail broker SRG Group | Insurance Business Australia

BMS acquires retail broker SRG Group

BMS, an independent specialist reinsurance broker, has announced its seventh acquisition in the past two years – SRG Group (SRG).

Founded in 2005, SRG is a leading corporate and small business, insurance broking, and claims management firm operating in Perth and Queensland. It offers a professional, highly personalised service and tailored insurance plans to suit individual requirements. Over the years, the efforts of SRG and its employees have been recognised and celebrated by the Australian insurance industry, including by the Insurance Business Australia, which most recently named SRG's Nikita Willis “Young Gun of the Year” in the independent category (20+ staff) in 2021.

The acquisition complements BMS's operations across Australia and brings additional scale. Acquired in full, SRG will see its employees transfer to BMS and gain access to its resources and distribution to benefit its 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,” said SRG managing director Rod Fitzgerald.

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Andrew Godden, chief executive of BMS's Australian business, has welcomed SRG to BMS as part of its significant growth ambitions in Australia.

“We will continue to expand our operations in the short and medium term with additional people, teams, and businesses that bring expertise and shared values,” Godden continued.

BMS CEO Nick Cook added: “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.”