Millards Insurance Services has joined Green Insurance Group (Greens) after the Global Risk Partners (GRP) hub received regulatory approval to acquire the East Kent business.
The deal, financial details of which were not disclosed, is the third for Greens in 2019 and the sixth since securing GRP’s backing more than two years ago. Earlier this year the Bexhill-based firm snapped up Reid Briggs Insurance Brokers and Clifton Morley Associates.
Commenting on the transaction, Greens chief executive Duncan Coleman noted: “Millards is a significant addition to our portfolio and strengthens our considerable presence in Kent. With the support of GRP, we continue our strategy of acquiring quality brokers which serve their local communities and extending our coverage across the South East.”
Offering a broad range of commercial and personal lines products, Millards has been trading for more than five decades and will continue to operate from its current premises in Deal and Sandwich.
“Delighted” with the swoop, Coleman offered: “A warm welcome from all of us at Greens to Millards directors David Brown and Phil Day and their team.”
Brown, who serves as managing director, believes Millards clients will greatly benefit from the development as they will have access to a wider range of offerings. He also pointed to further growth opportunities for the company now that it is under the Greens umbrella.
Meanwhile GRP group MD Mike Bruce noted: “Our acquisition pipeline continues to be exceptional, evidenced by this latest transaction and the deals we currently have in due diligence. A key objective for our hub businesses is to seek out and buy quality local brokers, and Greens’ track record speaks for itself. I’m confident there will be plenty more to come.
“David Brown and Phil Day have built an excellent local brand and, on behalf of GRP, I’m delighted they have chosen to continue their journey as part of the GRP family.”
