’KPTI is a smart, forward-looking and entrepreneurial brokerage with an appetite to expand its capabilities as part of GRP’s Retail Division,’ says GRP’s head of M&A
Brown and Brown-owned Global Risk Partners (GRP) has acquired commercial broker SB2 Limited, the holding company for KPTI Ltd trading as IS Insurance Solutions, according to a statement released today (6 July 2023).
Kingsbury KPTI was founded in 2019 by Bram Vyas and Shamit Malhotra – the current directors – and specialises in property owners and combined commercial markets.
The business will join Global Risk Partners’ retail division while the leadership structure and all staff will remain the same.
Stephen Ross, GRP’s head of M&A, said: “KPTI is a smart, forward-looking and entrepreneurial brokerage with an appetite to expand its capabilities as part of GRP’s Retail Division.”
“Bram and Shamit are skilled practitioners who value good and trusted relationships with their customers and existing insurer partners. They and their team see a great opportunity to deliver growth as part of GRP and we warmly welcome them to the Group.”
Bram Vyas and Shamit Malhotra added: “GRP’s track record of support for entrepreneurial management teams is well known in the commercial broking market and the added attraction of being part of the Brown & Brown team made it an easy decision for us to place our future with the group.”
“We are very excited about the new opportunities this deal provides for us, in particular the additional range of products and services we can provide for our customers, drawing on the strengths of GRP in the market.”
Snapping up brokers
This deal follows GRP’s acquisition of specialist commercial insurance broker Amicus Solutions last month (8 June 2023).
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Surrey-based Amicus was formed in 2010 and targets the construction, manufacturing, waste and recycling and haulage markets.
GRP said that purchasing the firm would see it become part of its retail division.
Stephen Ross, GRP’s head of M&A, added he was confident that Amicus “will see continued growth with our help and support”.
“It’s great that they have chosen to become part of the GRP and Brown and Brown team,” he added.
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