BMS Group has entered into a preferred partner agreement with Portuguese wholesale and specialty broker Tagus Specialty.
As per the plan, BMS teams in London and Madrid will work closely with Tagus.
The company will support the Tagus team in distributing specialty insurance and reinsurance products in the Portuguese market. This involves products such as cyber that are yet to have been widely taken up.
In addition, technologies including on-line sales portals will be used to reach a wider client base.
Tagus CEO Luis Morais said: “Our aim is to provide a bridge between independent Portuguese brokers and the best specialty products available globally. We can do that thanks to our partnership with BMS, a fast-growing international (re)insurance broker with whom we share a very client-focused approach.”
The key focus of the partnership includes binders, reinsurance, financial lines, large P&C accounts, affinities business and sports insurance.
Under the preferred partner agreement, Tagus will join BMS as a select group of independent brokers who are able to use the bms.partner logo on their business cards and marketing material.
BMS International head David Battman said: “Tagus is a new specialty business with a range of innovative products for the Portuguese market.
We look forward to working closely with the team there under Luis Morais in order to unlock new opportunities for both our groups and wish them the very best as they grow their practice.”