It’s getting almost hard to keep track of the acquisitions being made by specialist investment vehicle Global Risk Partners (GRP), but today the company has announced its eighth transaction since March.
The firm has taken a majority stake in Alan & Thomas Insurance Group, a chartered insurance broker founded back in 1975 that writes around £30 million GWP annually. The firm specialises in insurance for both businesses and HNW individuals and covers a host of specialties ranging from construction and marine, to agriculture, churches, charities and more.
According to a release announcing the move, all of the current management team will be retained and, Mike Bruce, GRP’s CEO of broking, insists that the Poole-based company, which employs 81 people, will become its “southern hub.”
“I am delighted to welcome Julian Boughton and his team to GRP,” he said. “GRP now has complete coverage of the South of the UK following our acquisitions of Higos (South West) and Greens (South East). We now write close to £120 million of GWP across this part of the UK and expect further rapid growth both organically and through further deals.
“GRP’s retail hub model will benefit customers by enabling them to benefit from further improvements in service and a broader set of propositions, in line with our overarching strategy that focuses on creating value for our customers, as well as our insurer partners and investors.”
The company also has offices in Basingstoke, Dorchester, Gillingham and Frome, and Boughton believes GRP’s involvement will offer a number of benefits.
“GRP’s entrepreneurial approach is refreshing,” he said. “Their model plugs straight in to our 2020 vision and beyond and is a logical alignment for us as we go into the next decade of our development. The combination makes us a stronger business, which will benefit our customers, staff and suppliers.”
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