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Global Risk Partners (GRP) has completed its acquisition of Marsh’s UK Networks business, following regulatory approval.
The deal was first flagged in February this year. At the time, GRP group CEO Mike Bruce told
Insurance Age that the company had always been interested in having a network as part of its distribution and that he believed GRP could add some “extra oomph” to the proposition.
As part of the transaction, David Hopwood, head of the UK Networks business, joins the GRP executive
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Buying Marsh’s UK Networks business has “filled the table” for Global Risk Partners (GRP) in terms of different routes to market, according to group CEO Mike Bruce.
He stated that GRP had always been interested in having a network as part of its distribution.
“It’s a strong business, but we believe we can add a little bit of extra oomph to it in a few areas,” Bruce told
Insurance Age.
“Using our insurer relationships and our own MGAs we can provide the network members with additional
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Global Risk Partners (GRP) has agreed to buy Marsh’s UK Networks business, including Marsh ProBroker, Bluefin Network and Purple Partnership.
Terms of the transaction, which is subject to regulatory approval, were not disclosed but completion is expected by the second quarter of 2021.
Mike Bruce, GRP’s Group CEO, hailed the transaction as “a great leap forward for GRP”, highlighting that the group now places or influences over £1.6bn of gross written premium.
GRP detailed that the acquisition
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Global Risk Partners Agrees to Acquire Marsh’s UK Networks Business February 18, 2021
Global Risk Partners (GRP) has entered into an agreement to acquire the UK Networks business of Marsh, the global insurance broker and risk adviser.
Terms of the transaction, which is subject to regulatory approval, were not disclosed. Completion is expected by the second quarter of 2021.
The Networks business comprises Marsh ProBroker, Bluefin Network and Purple Partnership. The acquisition also includes Marsh Connections, Marsh Labyrinth and Broker2Broker (B2B), part of Marsh’s wider UK networks business, which provide brokers with access to a range of products and facilities.
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