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ERSM Palma and BMN Brokers merge to intermediate in the Balearic Islands

ERSM Insurance Brokers and BMN Brokers have reached an agreement to merge the two brokerages based in Palma de Mallorca to operate from 2021 in the Balearic Islands, giving rise to one of the first private brokers in the territory.

The new brokerage will keep the name BMN Brokers and will be 50% owned by the ERSM Group. Thus, the portfolio of ERSM’s Palma de Mallorca office will be managed from the new brokerage, which will house ERSM’s professional team in Palma.

The agreement results in the creation of a more locally competitive brokerage, with ERSM Group’s market leadership that will enhance investment capacity, resources and channels. In addition to strong synergies that will result in a greater benefit and service to customers and collaborators in the islands.

BMN Brokers was created in 1990 and has its origins in the brokerages of Sa Nostra and Caixa Penedès, and in 2018 was acquired by private equity.

With this agreement ERSM Group strengthens its presence and positioning in Palma and the Balearic Islands.

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