Worldwide Risk Companions (GRP), portion of Brown & Brown, announced it has obtained the standard insurance policies portfolio of Woodward Markwell Insurance Brokers Ltd. (WM Brokers Ltd).
The deal marks GRP’s 100th acquisition since 2013, when the small business was launched.
Financial specifics of the transaction had been not disclosed.
The Ipswich, England-based agency will trade below the entity WM Brokers Ltd. and will grow to be GRP’s hub enterprise for East Anglia, a region in the east of England.
WM Brokers Ltd. has been writing insurance policy in East Anglia for the previous 40 several years and is a very highly regarded company with powerful hyperlinks in the enterprise community. It is mainly concentrated on SMEs with a distinct specialism in haulage.
Running director David McGowan and fellow director Toni Vincent-Panich will continue being at the helm and transfer across with all their typical insurance coverage colleagues. Outgoing director Julie Dyer will continue being with the small business for a amount of months in her present part to guarantee a seamless transfer.
“Through a mix of solitary-minded perseverance, customer concentrate and astute offer-earning we have produced potent momentum and excellent effects. In celebrating our 100th deal we have demonstrated the accurate worth of a devolved, empowered consolidation product, that will work for our individuals, brokers, clients and our insurance company companions,” commented GRP CEO Mike Bruce. (GRP was bought by Brown & Brown in March 2022).
Bruce claimed the acquistion of the portfolio is an critical future step in obtaining nationwide protection for the team.
“We have mentioned our intention to trade throughout the full of England and Wales, as properly as Northern Eire, and this acquisition is a crucial landmark in that technique. WM Brokers is a large high-quality business with a reliable footprint in East Anglia,” he extra.
“David McGowan and his crew are very remarkable and experienced business owners and their power as a unit was a crucial component behind our desire in the business,” Bruce stated. “WM Brokers will be a worthwhile addition to our portfolio, and we glimpse forward to supporting them on the up coming stage of their expansion journey.”
“It is excellent to become the 100th and latest member of the GRP household,” explained McGowan. “GRP has a name for supporting formidable brokerages with a sturdy entrepreneurial ethos. We see this deal as an possibility to substantially improve our existence in East Anglia and provide an ever broader portfolio of merchandise and solutions to our clients.”
Source: Global Threat Associates
Mergers & Acquisitions
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