Global Risk Partners Ltd. (GRP), the London-based insurance broking and managing general agent investment vehicle, has acquired the commercial and personal insurance broker, SLK General Insurance Services Ltd., based in Ely, Cambridgeshire in the U.K.
SLK Insurance’s management team will continue to lead the business.
Shaun Locke, managing director of SLK General Insurance Services Ltd., said: “Joining Global Risk Partners is an ideal solution for our business and with their support we can accelerate our growth plans. We are looking forward to working closely with GRP to become a major broking force in the region which will benefit our clients, staff and insurers.”
Mike Bruce, CEO Broking for GRP said: “SLK is a long established broker with a strong reputation in Cambridgeshire and I am delighted to welcome Shaun and his team to GRP. We have ambitious growth plans to grow our footprint in the region through further acquisitions and recruitment of talented individuals.”
He noted that London-based GRP currently handles about £400 million ($504.6 million) of insurance premium. The company “offers an ideal environment for entrepreneurial businesses, teams and individuals who wish to grow as part of an independent, strongly capitalized, regulatory compliant intermediary business.”
About Global Risk Partners
GRP is an investment vehicle aimed at brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets. Established in 2013 by Peter Cullum, chairman, and David Margrett, chief executive, GRP acquires businesses, teams and portfolios that have niche, non-commoditized and specialty propositions. It is backed by private equity firm Penta Capital LLP.
Related:
- Global Risk Partners Acquires UK-Based BB Insure
- UK’s Global Risk Partners Acquires Cavendish Munro Professional Risks
- Global Risk Partners Completes Acquisition of LONMAR
- Global Risk Partners Funds Acquisition of McGrady Ltd. in Northern Ireland
Topics Mergers & Acquisitions Agencies Insurance Wholesale Uk
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