Brown & Brown, Searchlight and Global Risk Partners Limited today announced that the parties have entered into an agreement to acquire the GRP insurance operations. The transaction is expected to close in the third quarter of 2022, and a purchase price was not disclosed.
GRP was established in 2013 by Peter Cullum, David Margrett and Stephen Ross. With annual revenue of approximately $340 million, GRP is one of the top independent insurance intermediaries in the United Kingdom, servicing nearly half a million personal and commercial customers. GRP group includes four divisions: retail broking, specialist MGA, network and Lloyd’s businesses. Headquartered in London, GRP is composed of more than 2,100 insurance professionals in 110+ locations throughout the U.K. and Ireland.
GRP continue to be led by Mike Bruce, global chief executive officer of GRP.
