GRP announces Green Insurance acquisition

Acquisition revealed within the last hour and has been approved by the FCA

GRP announces Green Insurance acquisition

Insurance News

By Paul Lucas

Global Risk Partners, the specialist investment vehicle for brokers and MGAs, has ambitious growth plans – and today it has proven that actions speak louder than words.

The company has revealed it has taken a majority stake in Green Insurance Group, based in Bexhill. Approval for the deal has been granted by the FCA and follows on from GRP’s move for Higos in the South West earlier this year.

In acquiring Green Insurance, it has picked up a firm with a strong reputation – it was founded back in 1973 and writes both commercial and personal lines, employing around 80 people. Its management team, including chairman Clive Galbraith and managing director Duncan Coleman, are set to retain equity in the business.

“Greens has itself been an acquirer of brokers for over 20 years, having bought 25 other brokers, and we are now in a good position to deliver our pipeline and expand the footprint to cover most of the South East,” commented Galbraith. “This acquisition is a vote of confidence in our people and our strategy and we look forward to a successful future with GRP.”

“After Higos (South West), ABL (Northern Ireland) and Marshall Wooldridge (North) our hub strategy for the UK is now taking shape,” said Mike Bruce, CEO of broking at GRP. “The acquisition of Greens gives us a strong platform in the South East and we look forward to supporting them to meet their ambition to double the size of the business during the next few years.”

Related stories:
Global Risk Partners acquires Higos Insurance Services
Global Risk Partners completes Lonmar management buyout

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