Petherwick Insurance Brokers (Petherwicks) is now part of Green Insurance Group (Greens), expanding the South Eastern footprint of Greens and its parent Global Risk Partners (GRP).
“This is a great deal for us as we look to embark on the next stage of our journey with the support and investment from Greens,” former Petherwicks owner Bob White, who will remain at the firm along with the commercial lines broker’s entire team, said in an emailed release.
“Duncan painted a compelling picture of the opportunity for us with Greens and the wider GRP and Brown & Brown team. We were especially enthused by the Brown & Brown concept of the ‘forever company’, which is a core part of the group, and we look forward to playing our part in expanding the group presence in the South East of the UK.”
White was referring to Greens chief executive Duncan Coleman, who described the acquired brokerage as an “excellent” business.
“It’s great to welcome Bob and the team into Greens,” Coleman commented. “We are keen to be the best possible custodians for the business and their customers, and we look forward to offering them the opportunities that come from being part of one of the world’s biggest and most dynamic broking groups.”
The transaction, the financial terms of which were not disclosed, has received regulatory approval.
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