GRP’s Castle Insurance continues growth with broker acquisition

Castle Insurance, the North East hub of Global Risk Partners (GRP), has continued its growth trajectory with the acquisition of 100% of the share capital of Square Circle Brokers, revealed a statement released today (5 September 2023).

Founded in 2010, the Durham-based broker provides customers with general commercial insurance, predominantly for motor fleet, commercial combined, combined liability and property owners.

All of the team, including directors Phil Bailey, Jane Brown and Gary Crow, will continue with the business and will remain in the Square Circle office in central Durham.

Paul Younger, founder and managing director of Castle, commented: “I’ve known Phil, Jane and Gary for a long time and have worked with them previously.

“They are highly experienced practitioners with a combined 85 years of commercial broking between them and we will benefit enormously from their extensive knowledge when they come on board.”

“The Square Circle team will be a great fit for Castle and I am confident our combined forces will further accelerate our footprint here in the North East.”

Growth trajectory

Castle’s acquisition of Square Circle follows on from its purchase of Durham-based broker M R Lonsdale and Partners in a deal earlier this year (4 April 2023).

The acquisition of M R Lonsdale and Partners was the first Castle had made since becoming part of GRP in May 2022.

Castle managing director Paul Younger said the business acquired M R Lonsdale and Partners as it was an “excellent cultural fit and would add significant scale to the business”.

“The addition of Lonsdale – which has a broad local reach – complements our existing proposition and gives us the impetus for further growth,” he added.

“Lonsdale is the oldest brokerage in the city of Durham and very well known in this part of the world.”