‘There’s always misinformation and bravado around multiples’ says new GRP boss Mike Bruce

Mike Bruce, Bluefin

Despite the advantages of consolidation, Bruce added that this is still viewed negatively within the broking sector

In June, Partners& chief executive Phil Barton and chairman Stuart Reid told Insurance Times that the multiples now being paid to acquire small and growing brokers are beginning to damage the broking profession. Mike Bruce, GRP’s new group chief executive, however, disagreed with this outlook.

He said: “There’s always a lot of misinformation and bravado around multiples, but I don’t believe the multiples have changed materially in the last couple of years.

Read more…

(If you’re already a subscriber, please sign in here.)

Get access with a 14-day free trial

This article is usually available exclusively to subscribers.

Subscribe for full access - Take out a print and online or online only subscription

For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.

Also, as a registered user, you will be able to -

  • Access unlimited breaking industry news as it happens
  • Sign up to a choice of daily and weekly newsletters

Register to view free premium content