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GRP acquires Willis Towers Watson’s NI insurance broking business

GRP acquires Willis Towers Watson’s NI insurance broking business | Insurance Business UK

GRP acquires Willis Towers Watson’s NI insurance broking business

Global Risk Partners (GRP) is continuing to grow its business as a rapid pace, finalising its acquisition of Willis Towers Watson’s (WTW) commercial risk and broking business in Northern Ireland (NI), now called ABL Risk Solutions.

As part of the deal, the £65 million gross written premium (GWP) portfolio is now part of GRP’s NI brokerage ABL Group, with ABL’s CEO Maurice Boyd heading up the combined organisation.

All WTW employees at the broking business have moved to ABL Risk Solutions as the combined business will move into new offices in City Quays 1 in Belfast on November 21.

“Completion of this deal is a great milestone for us, and we’re delighted to welcome such a fantastic team into ABL,” Boyd said.

“This portfolio of high-quality commercial business is another boost to our own strength and future prospects, and the deal underpins our confidence in Northern Ireland’s economic future.”

Read more: GRP-owned DCJ Insurance reveals second acquisition of the year

The acquisition sees Harry Weir, who led the WTW NI team, become the vice chairman of ABL Group. Meanwhile, his former deputy, Shauna Graham, is now the managing director of ABL Risk Solutions.

Commenting on the new appointments, Boyd said: “I am very pleased that Harry and Shauna and their colleagues are now part of the combined business. We will benefit from their skills and experience, and they can look forward to great opportunities within the ABL Group.”

GRP group CEO Mike Bruce stated that the company has remained focused on its acquisition strategy despite the “challenging and disrupted times.”

He added: “The completion of this excellent deal, transforming ABL into the number one broker in Northern Ireland, is robust evidence of how well that focus has paid off.

“It gives us a great platform to continue to build upon our presence in Northern Ireland and is a strong signal of our continued drive for growth through M&A across the whole of the UK and Ireland.”