Broker has a strong track record in the construction, renewable energy and surety insurance sectors

BMS Iberia has signed a deal to acquire Seguros Viafina (Viafina), the Spanish specialty insurance and reinsurance broker.

The acquisition is set to complete in February 2023, with BMS acquiring Viafina in full, subject to regulatory approval by the Dirección General de Seguros y Fondos de Pensiones (DGSFP). The terms of the transaction were not disclosed.

Headquartered in Seville and with offices in Madrid, Viafina provides insurance solutions for its clients that range from listed multinational corporations to SMEs.

Specialty offering

From its outset, Viafina has concentrated on construction as well as renewable energy insurance, helping projects come to fruition through effective risk management services.

The broker is also a specialist in surety insurance, advising companies on international guarantees, helping them with projects and on public tenders globally.

Gonzalo Camacho, CEO of Viafina, will report to Fernando Claro, CEO of BMS Iberia and will also retain his Europe-wide surety view. Gonzalo will join as Surety Managing Director and  become a member of the Executive Committee of BMS Iberia.

The acquisition serves as a continuation of BMS’ long term strategic plans for the Iberian region, building on its existing presence and adding further capabilities and infrastructure to BMS’ offering.

Claro said: “Our acquisition of Viafina marks a continuation of our investment in the Iberian region. The team has a broad range of experience working with both the national and international markets and an extensive knowledge of the construction sector, renewable energy sector and of surety insurance.”

Camacho added: “[The acquisition] gives us significant added reach and technical capabilities that will enable us to expand on the excellent work we have been doing since our inception.”