Specialist insurance and reinsurance broker BMS has established a new unit in Turkey as part of its expansion plans.
The new unit is named BMS Sigorta ve Reasürans Brokerliği and is headquartered at in Istanbul.
The Turkish arm will offer facultative and treaty reinsurance services as well as emphasise on specialty lines.
BMS has also appointed Servet Gurkan as chairman along with Tamer Saka and Kerim Gurkan to lead the operations in Turkey. Separately, the company has also agreed to a shareholders agreement with the executives.
BMS CEO Nick Cook said: “Establishing BMS in Turkey is a key milestone and represents our initial expansion into the Near and Middle East, as well as a bridge to the Commonwealth of Independent States and neighbouring countries.
“It is our intention to build a truly regional business and to provide our existing and future customers with a specialty and reinsurance service of proven professionalism and resilience.”
Gurkan said: “In BMS, we have found an established and recognised brand whose client focused philosophy we are entirely aligned with.
“Together we are excited to start building a new and dynamic operation to expand and enhance the reach of BMS throughout the region for the benefit of clients and markets.”
Servet Gurkan has a nearly a forty-year experience of working in underwriting and broking businesses in Turkey.
Most recently, he served as the chairman and CEO of JLT Turkey.