Broker and MGA Camberford Law is snapped up by consolidator that shows no signs of stopping
Global Risk Partners (GRP) has acquired a majority stake in broker and specialist MGA Camberford Law for an undisclosed sum.
Current Camberford Law managing director David Ottewill will leave the business, and Simon Carter takes over the role.
Bromley-based Camberford Law’s director Paul Cooper will remain for a short time to assist with the transition, but will also be leaving the business.
Stephen Ross, chief operating officer of GRP and the CEO of the Group’s MGA division, said: “I am delighted to welcome Simon Carter and his team to GRP.”
Ross continued, “Camberford Law is an excellent business, underwriting a portfolio of client-focused specialist and niche products on behalf of its longstanding panel of insurer partners.”
He concluded: “With our support, Simon and the team will gain access to our UK regional retail footprint and further develop their own broker relationships. We fully expect to achieve rapid growth in the business.”
Camberford Law wrote £38m GWP last year. It has specialist expertise in security, contractors, professional services and property.
The MGA has been an accredited Lloyd’s broker since 2006, with offices in London.
Simon Carter, Camberford Law’s managing director, said: “Peter Cullum and the GRP team painted a compelling picture of the opportunity with GRP to accelerate our growth. We look forward to working with our fellow businesses within the GRP family and our supporting network of brokers to improve and broaden our product reach throughout the UK.”
Camberford Law is the Peter Cullum-backed consolidator’s 28th acquisition to date, and according to Cullum, GRP will show no signs of stopping on its acquisitive trail any time soon. It has recently completed a £200m capital facility.
GRP now handles in excess of £650m. According to Ross, the consolidator has “a strong pipeline, but we are also growing organically.”