The deal is GRP’s first since welcoming Florida-based Brown and Brown as its new parent company

Global Risk Partners (GRP) has boosted its retail division with the acquisition of the share capital of First Insurance Solutions.

Broker First Insurance provides bespoke insurance solutions in the contracting sectors – such as drainage, cleaning, electrical, air-conditioning and security.

First Insurance will maintain trading under its own brand and all colleagues – including chairman and founder Martin Bell, managing director Matthew Sendall-King and director Andrew Chibeba – will continue to operate in its Maidstone-based offices as part of the deal.

The deal, which has received regulatory approval for an undisclosed amount, is GRP’s first acquisition since being bought by Florida-based independent broker Brown and Brown earlier this year (8 March 2022).

Market presence

GRP Group chief executive Mike Bruce said that “it remains very much business as usual where our buy and build strategy for retail is concerned”.

He continued: “First Insurance is a quality regional broker and we look forward to working with Martin, Matthew and Andrew to build out their market presence.

“This deal, coming so soon after our own change of ownership, signals our determination to continue to look for businesses with entrepreneurial management teams that want to build their futures with GRP.”

Bell, meanwhile, said: “We are very excited by the opportunity to become part of GRP retail and we fully expect that with GRP’s support, we will make a step change in our growth strategy in the coming months.”