Terms of the acquisition were not disclosed; Broker specialises in industrial risks and professional sports

Reinsurance and specialty broker BMS has signed a deal to acquire Eisenar, the Spanish specialty insurance broker. The terms of the acquisition were not disclosed.

Eisenar was founded in 2001 by Eugenio Sanchez-Belda and is headquartered in Seville with a second office in Madrid. It specialises in industrial risks and professional sports insurance, with Seville Football Club one of their flagship clients.

Eisenar also works with corporate insurance buyers in hospitality, agriculture, surety, renewable energy, cyber, construction and manufacturing solutions.

Sanchez-Belda’s son Carlos Sanchez-Belda and daughter Maria del Mar Sanchez-Belda currently chief executive officer (CEO) and managing director respectively, will lead the business alongside Francisco Gomar, the existing technical director. 

Carlos Sanchez-Belda will join as chief commercial officer, reporting directly to Fernando Claro, CEO of BMS Iberia, becoming a member of the executive committee of BMS Iberia. Eugenio Sanchez-Belda will be invited to join the BMS Iberia Advisory Board.

Carlos said: “For the past 20 years Eisenar has had an exemplary track record in Spanish specialty insurance and following this acquisition its future is bright. We will continue to lead the business and look forward to incorporating our successful business model into the BMS group. 

“The entire Eisenar team are delighted to join BMS Iberia, and with their global presence and expertise, we will continue to innovate and provide the best-in-class service to our clients.”

Claro added: “Eisenar’s family run culture is one of their most important strategic assets. Their young and dynamic leadership team will be instrumental in consolidating our market presence, by driving the development of innovative solutions that are customised to the needs of each affinity and client.”

This agreement will be Subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones (DGSFP).