BMS acquires Oria to bolster Turkish expansion

BMS Group has acquired Turkish reinsurance broker Sigorta ve Reasürans Brokerliği A.Ş. as part of its strategy to expand across the Middle East and deepen its capabilities in the Turkish insurance market.

The Istanbul-based broker will now operate under the BMS brand, with its team integrated into BMS Turkey.

The move is the latest in a series of acquisitions by BMS in the region, including deals in the UK, Spain and Dubai.

Nick Cook, CEO, BMS Group, said: “Acquiring Oria represents a significant step forward in our EMEA growth strategy. Their talented team brings valuable expertise and strong client relationships that will further elevate our capabilities in Turkey. We’re delighted to welcome them into the BMS family.”

Founded in 2019, Oria has grown a strong presence in corporate insurance and employee health benefits.

The firm’s local insight will now complement BMS’s global re/insurance broking reach, with the aim of providing more competitive and client-focused solutions in Turkey and beyond.

Kerim Gürkan, CEO of BMS Turkey, said: “This is an integration of two like-minded businesses. Over the past three years, BMS has established itself in Turkey as a leading specialty broker with strong international capacity.

“Now, by joining forces with Oria’s experienced team and local insight, we enter an exciting new chapter—broadening our client base and deepening the value we bring to both clients and insurance partners, locally and globally.”

The acquisition marks another milestone in BMS’s regional development, the broker said, with the group also planning to establish a new presence in the Dubai International Financial Centre, subject to regulatory approval.

Cenk Erden, founder and CEO of Oria, will take on the new role of chief growth officer and join the board of BMS Turkey.

“This strategic merger brings together Oria’s local market knowledge with BMS’s international strength and vision,” said Erden.

“It’s a natural fit built on shared values and a commitment to delivering high-impact, high-value solutions. We’re thrilled to join BMS and contribute to its ambitious growth journey,” he added.