The acquisition is GRP’s fourteenth of the year
GRP has made its fourteenth acquisition of the year, snapping up high net worth broker Gauntlet for an undisclosed sum.
Gauntlet specialises in insuring historic and country houses, fine art, jewellery, farm and estates, yachts and prestige vehicles.
It covers £8bn worth of client assets in the UK, Europe and the rest of the world.
Gauntlet was founded in 1982 by Harry Fitzalan Howard, who remains at the business and will become chairman, while fellow director Steve Buckingham will be the managing director.
The business will sit in GRP’s retail segment under the leadership of GRP group managing director Mike Bruce.
GRP already owns Lonmar, which deals in bloodstock risk and fine art, but the Gauntlet acquision adds high-value property to its portfolio.
Commenting on the acquision, Bruce said: “We are delighted to have acquired such a prestigious business with a high-quality management team and an excellent reputation in the market.
”I warmly welcome Harry, Steve, Simon and the rest of the Gauntlet team to the GRP family, where we look forward to supporting their exciting plans for further development.”
“In GRP we have found the ideal partner to continue our development and to further enhance our service proposition. I am excited about the future opportunities for Gauntlet as part of GRP,” added Gauntlet chairman Fizalan Howard.
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