GRP completes acquisition of Willis Towers Watson’s insurance broking business in Northern Ireland
Global Risk Partners (GRP) has completed its acquisition of Willis Towers Watson’s commercial risk and broking business in Northern Ireland.
The £65m gross written premium (GWP) portfolio is now part of GRP’s Northern Ireland brokerage ABL Group, with ABL’s CEO Maurice Boyd heading up the combined organisation.
All WTW staff involved with the portfolio have moved across to the newly-formed ABL Risk Solutions. The combined business will move into new offices at the beginning of November.
Harry Weir, who headed up the WTW NI team, has been appointed Vice Chairman of ABL Group, with his former deputy Shauna Graham becoming Managing Director of ABL Risk Solutions.
Maurice Boyd said: “Completion of this deal is a great milestone for us and we’re delighted to welcome such a fantastic team into ABL.
“I am very pleased that Harry and Shauna and their colleagues are now part of the combined business. We will benefit from their skills and experience, and they can look forward to great opportunities within the ABL Group
“This portfolio of high-quality commercial business is another boost to our own strength and future prospects, and the deal underpins our confidence in Northern Ireland’s economic future.”
GRP’s Group CEO Mike Bruce said: “We have remained focused on our acquisition strategy throughout the recent challenging and disrupted times. The completion of this excellent deal, transforming ABL into the the number one broker in Northern Ireland, is robust evidence of how well that focus has paid off.
“It gives us a great platform to continue to build upon our presence in Northern Ireland, and is a strong signal of our continued drive for growth through M&A across the whole of the UK and Ireland.”
ABL Group is a leading independent broker in Northern Ireland. ABL is headquartered in Belfast, looking after over £50m premium income. ABL is led by CEO Maurice Boyd, and MD Stephen Carlisle. In 2015 ABL became a part of the GRP Group, one of the largest independent brokers in the UK.
ABL has experience in integrating acquired teams and significant books of business, having previously acquired brokers Digney Grant and McGrady Insurance.
GRP was founded in 2013 and has grown rapidly to become one of the UK’s largest independent insurance intermediaries.
GRP operates retail broking, specialist MGA, network and Lloyd’s businesses, enabling the Group to serve the growing insurance and risk management needs of its clients. The group acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability.
In June 2020, Searchlight Capital Partners, a global private investment firm, acquired a majority stake in GRP.
For more information please contact: Ben Welsh 07568 382040