GRP takes majority stake in specialist agricultural broker and UK-wide federation
Global Risk Partners (GRP) has continued on its acquisition spree, with the FCA-approved purchase of a majority stake in County & Commercial Insurance Brokers (CCIB) for an undisclosed sum.
The new acquisition deals in both commercial and personal lines insurance, with expertise in farm, farm fleet, haulage, D&O and environmental liability.
The Lancashire-based specialist agricultural broker has oversight of the UK-wide Federation of Agricultural Brokers (FAB), and GRP will acquire this as part of the deal.
CCIB and FAB founders Debbie Airey – current managing director at CCIB – and Anne Pickover will continue in their roles.
Airey said: “Brexit will bring about huge changes in the farming sector, not least because of the potential reforms to the farm payments system, which require farmers to supplement their income by generating revenue from means other than traditional farming, for example leisure, specialist food production and other rural business activities.”
She continued: “It will be vital that they get advice from specialist brokers such as CCIB who understand their needs.
“As part of the GRP Group, CCIB will be able to extend the help and support we give our customers so that they make the most of the new opportunities provided by change in the rural landscape.”
This is Peter Cullum-founded GRP’s third acquisition this year. Most recently it purchased Crewe-based The County Group.
Mike Bruce, GRP chief executive of broking, commented: “Debbie and Anne are just the sort of entrepreneurs GRP admires, and we are confident that, under their leadership, CCIB and FAB will continue to thrive and prosper in the agri-insurance sector post-Brexit.”
Bruce confirmed that he had “high expectations for growth” for CCIB and FAB.