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GRP reveals first deal in the Republic of Ireland

GRP reveals first deal in the Republic of Ireland | Insurance Business

GRP reveals first deal in the Republic of Ireland

Global Risk Partners (GRP) has today announced the completion of its majority share purchase of the leading Irish commercial broker, Crotty Insurance Brokers Ltd (Crotty). Founded by Finbarr Crotty (pictured) in 1994, Crotty provides tailored insurance solutions across a range of sectors including renewable energy, construction and professional services.

The acquisition is the first GRP has made in the Republic of Ireland and Crotty’s Dublin offices will now be GRP’s ROI hub, with further deals expected to be made in the country going forward. Discussing the move, Stephen Ross, head of mergers and acquisitions at GRP, said the business is delighted to bring this respected and successful brokerage onboard and to enter the ROI’s thriving insurance sector.

Read more: GRP's new chief exec on acquisitions during the coronavirus pandemic

Ross noted that Crotty’s team have rightly earned a strong reputation for expertise and exemplary client service and confirmed that Crotty, Eoin Greene and Graham Devine will all continue as executives, directors and shareholders in the business, supported by the current Crotty team. Crott will make the move to executive chairman while Greene will become chief executive.

Crotty said: “This is a fantastic development for us and our customers. We have worked very hard to build a successful business and earn our reputation in the market and we’re delighted that GRP has recognised the value of what we’ve achieved. We have been very impressed by GRP as an organisation and are really excited about the value our new partner will bring to our clients and employees.”

Meanwhile, Mike Bruce, group CEO at GRP, said that GRP has always seen Ireland as a great opportunity to grow the business beyond the UK and that it is delighted with the deal and looks forward to further growth in the market.