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It hasn’t even been a month since we told you about the 33rd acquisition by Global Risk Partners Limited (GRP)… now the growing group has obtained a regulatory nod for its Lloyd’s coverholder swoop in Cwmbran.
GRP, which handles in excess of £700 million in gross written premium, has snapped up U-Sure Insurance Services Ltd for an undisclosed sum. Founded in 2005 by couple Ben and Dee Coleman, the business has a specialist property book as well as relationships with over 900 brokers.
U-Sure is the first acquisition for GRP’s underwriting division under the leadership of underwriting chief executive Clive Nathan. Post-completion, the deal will see the Colemans each retain a minority shareholding while the entire U-Sure workforce stays put.
“I warmly welcome Ben and Dee to GRP, where we have ambitious plans to grow the underwriting business, and I look forward to helping them strengthen their relationships with brokers and further enhance the products and services in their portfolio,” commented Nathan.
With GRP’s strong pipeline, U-Sure is already its 10th swoop completed this year.
“We were impressed by the GRP team and what they have to offer a growth-oriented business such as U-Sure,” said Ben Coleman. “We are keen to expand in our specialist area of property insurance, and I’m confident Clive and the GRP team will help us go from strength to strength.”
