Business

GRP acquires Five Insurance Brokers

The acquisition follows recent news that the insurance broker has agreed to acquire Marsh’s UK business networks

Global Risk Partners (GRP) has announced its acquisition of Suffolk-based Five Insurance Brokers.

Founded in 2010, Five is a specialist provider of commercial insurance to the construction, manufacturing and process, haulage, motor trade and warehousing sectors.

This acquisition follows the insurance broker’s recent business arrangement which led to it purchasing Marsh’s UK business networks.

Rob Shurety, Five’s director, said: “At a time when we are seeing rates hardening across our specialist sectors, it is important that we obtain the best possible deals for our clients, maintaining the level of cover they need at the right price. 

“As part of GRP, we’ll improve our access to senior decision makers within insurers, which will help us strike better deals for our clients.”

He added: “In summary, this is a great deal for Five and its clients and we are fully expecting to accelerate our profitable growth under new ownership.”

Stephen Ross, GRP’s head of M&A, said: “This is a high-quality business with an experienced, highly entrepreneurial management team. Five has good roots in East Anglia and gives us a significant footprint in this part of the country.

“Following the announcement of the major acquisition of Marsh’s UK Networks business last week, this deal underlines the continued strength of our pipeline and that we continue to have a strong appetite to bring deals across the line.”

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