Broker’s management team will continue to lead the business

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Broker consolidator Global Risk Partners (GRP) has bought commercial and personal lines broker BB Insure for an undisclosed sum.

BB Insure is GRP’s fourth retail broking acquisition since formation, following Abbey Bond Lovis in August 2015, McGrady in May 2016 Cavendish Munro in June 2016.

It is also the consolidator’s fifth acquisition this year.

BB Insure has offices in Boston and Skegness and places agriculture, business, industrial, haulage, leisure, landlord and personal lines.

It will continue to be run by its existing management team, led by managing director of Rob Brooks, who is a co-investor in the business.

Brooks said: “I am excited to be part of a group that will help our business to grow and give our clients access to enhanced products and markets.

“With the support of Global Risk Partners, we can expand the business whilst maintaining our reputation as a client focused organisation providing high standards of professional service.”

GRP broking chief executive Mike Bruce (pictured) added: “I am delighted to welcome Rob and his colleagues to GRP. BB Insure has grown rapidly in recent years under Rob’s leadership, and we see this as an ideal base to expand our footprint in the region through further acquisitions and recruitment of talented individuals.”

GRP, founded by former Towergate chairman Peter Cullum and former Willis Ltd chief executive David Margrett in 2013, now controls around £400m of gross written premium.