We’re not even halfway through the first month of the year, and Global Risk Partners (GRP) has already made three acquisitions – the latest being GRP’s swoop for Welsh retail insurance broker BPW Insurance Services Ltd.
“GRP is backing us to become one of the leading players in South East Wales, and with their support, I am confident that we can rise to those expectations,” said BPW managing director Paul Wiggins, who will remain at the helm.
“The value of being part of a bigger group is not just the better access to insurer partners and resultant enhanced product offerings to our clients, but also the opportunity to utilise GRP’s central resources to help us to focus on our clients and grow our business.”
Staying on with Wiggins are BPW directors Jason Evans, Ian O’Brien, Alison Phillips, and Alisha Edwards, as well as the company’s 23-strong workforce that specialises in commercial and property insurance.
“We are all very excited about the prospect of being part of the GRP/Brown & Brown team, and 2023 promises to be an exciting year for us,” added the managing director, whose business is turning 40.
The completed deal, financial terms of which were not disclosed, comes hot on the heels of GRP’s purchase of Christopher Trigg Ltd and Nucleus Underwriting.
GRP mergers & acquisitions head Stephen Ross has nothing but nice words for Wiggins’ camp.
“It is a highly successful local business, and Paul is a well-known insurance leader in South Wales,” noted Ross. “He is focussed on building out BPW’s market presence, and we are keen to support his plans.
“The business has deep roots in its community and has an excellent reputation with its clients. Paul and his team are progressive, dynamic, and entrepreneurial, and I’m really pleased they’ve chosen GRP to be the custodians for their business.”
He added: “We remain keen to talk to vendors looking to create value from their life’s work, and we have a variety of M&A solutions available to meet their needs and provide them and their colleagues with a great platform for the future.”
An operating unit of the retail segment at Brown & Brown, Inc., GRP operates retail broking, specialist MGA (managing general agent), network, and Lloyd’s businesses.
