BMS’ speciality reinsurance unit BMS Re has acquired KNW Brokers Corretora de Resseguros (KNW) for an undisclosed sum.

KNW is a Brazil-based reinsurance intermediary engaged in providing bespoke reinsurance solutions for sectors such as property, construction, marine, energy, clinical trials and fine arts.

The acquired firm specialises in placing Brazilian reinsurance risks and portfolios, making it a key partner for BMS Re’s existing Brazil branch.

As a part of the merger of the two businesses, KNW’s executive team will work alongside BMS Re Brazil CEO Jose Leão.

KNW’s acquisition further accelerates BMS Re’s objective to expand its Latin American (re)insurance operations.

Leão said: “The acquisition of KNW aligns perfectly with BMS’ vision of growth, as we expand, we are prioritising strategic acquisitions with a focus on the right people, who are aligned with our culture, business model and adding value to our proposition offering to clients.

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“KNW team’s excellent reputation in Brazil will greatly complement our existing team and further cement our position as the reinsurance broker of choice to our clients and partners.”

KNW CEO Márcio Ribeiro said: “BMS Re is renowned for combining a wide range of competitive and innovative reinsurance solutions with an in-depth knowledge of its markets and clients. All of us at KNW are thrilled by the move and are pleased and excited to be part of the BMS group.”

In 2022, the reinsurer acquired Calomex, a specialist reinsurance broker based in Mexico City, and PWS Mexico in 2021.

Earlier this month, BMS signed a deal to acquire Bluebook Insurance Brokers, an Australian company for an undisclosed sum.