Oria: BMS Group Expands in Turkey with Acquisition of Oria
Deal News | May 22, 2025 | Re-Insurance News
BMS Group, a worldwide independent insurance and reinsurance broker, has expanded its operational footprint in the Turkish market through the acquisition of Istanbul-based Oria Sigorta ve Reasrans Brokerlii A.S. Oria, founded and led by Cenk Erden, has built a strong reputation in the realm of corporate insurance and employee health benefits since its inception in 2029. This strategic acquisition means that BMS can now integrate Oria's local market knowledge and established client relationships with its own international strength and expansive network outlook. As part of the deal, Cenk Erden along with Remzi Duman, will join the Board of BMS Turkey, enabling the newly-formed entity, BMS Group Sigorta ve Reasurans Brokerligi A.S, to deliver enhanced and solution-centric services. According to BMS CEO Nick Cook, this acquisition marks a pivotal milestone in the company’s EMEA growth strategy. Kerim Grkan, CEO of BMS Turkey, highlighted the integration as a significant broadening of their capacity to serve clients globally by merging local insight with international capacity.
Sectors
- Insurance
- Reinsurance
- Corporate Finance
Geography
- Turkey – The acquired company, Oria, is based in Istanbul, Turkey, marking an important geographical market for BMS Group’s expansion.
- United Kingdom – BMS Group is a global firm with a significant presence in the UK, highlighting its broader geographical strategy involving the UK market.
- Europe – The expansion and acquisition strategy of BMS Group targets regions including Europe, signifying its strategic markets.
Industry
- Insurance – The acquisition involves two insurance brokerage firms, BMS Group and Oria, operating within the insurance sector.
- Reinsurance – The acquired firm, Oria, and BMS's existing operations include significant dealings in the reinsurance market.
- Corporate Finance – The expansion and acquisition activities illustrated in the article pertain to corporate finance strategies of M&A.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BMS Group | Acquiror | Company | An independent global insurance and reinsurance broker. |
| Oria Sigorta ve Reasrans Brokerlii A. | Target company | Company | An independent re/insurance broking firm based in Istanbul, Turkey. |
| Cenk Erden | Owner and Chairman of Oria | Person | He will join the board of BMS Turkey as part of the acquisition. |
| Nick Cook | CEO of BMS Group | Person | He commented on the significance of the Oria acquisition in BMS Group’s EMEA growth strategy. |
| Remzi Duman | Board Member at BMS Turkey | Person | Will join the board of BMS Turkey following the acquisition of Oria. |
| Kerim Grkan | CEO of BMS Turkey | Person | He highlighted the integration of BMS and Oria's operations in Turkey. |