Global Risk Partners (GRP), one of the UK’s largest independent insurance intermediaries, has acquired the business and assets of Cardiff-based community broker PG Insurance for an undisclosed sum.
Completed on March 01, the acquisition will see PG Insurance continue to trade under its existing brand and join The County Group, a part of GRP, in South Wales – with all its people staying under the new ownership.
The County Group CEO Alastair Christopherson said he expects PG Insurance to boost the company’s presence in an important growth area.
“It’s great to begin 2022 with an acquisition, and PG Insurance is an excellent and well-run local business that will boost our presence in South Wales,” Christopherson said.
PG Insurance founder Graham Tatham commented that he is confident that the PG Insurance team will make the most of the opportunities emerging in the sector post-COVID-19 pandemic.
“We couldn’t be happier to become part of County Group. Alastair and his team quickly understood our business and offered their full support for our plans,” Tatham continued. “We look forward to becoming part of a bigger operation in South Wales.”
Christopherson added: “On behalf of County Group and GRP, I extend a very warm welcome to Graham Tatham and his PG Insurance team, who will play a key role in supporting our ambitious plans for extending our footprint in South Wales.”
The agreement with PG Insurance follows GRP’s acquisition of a majority stake in the digital broker Hamilton Fraser (the trading name of HFIS Limited), which provides specialist insurance risk management for the private rented property sector and the cosmetic and aesthetic practitioners industry.