Two Eastbourne-based brokers and a Kent broker have been acquired by GRP businesses
GRP has announced the acquisition of three businesses by two of its hub brokers.
Green Insurance Group, the south eastern GRP hub, has acquired Reid Briggs Insurance Brokers Ltd, based in Eastbourne, and Clifton Morley Associates Ltd, based in Welling, Kent. Both acquisitions have received regulatory approval.
In addition, specialist Lloyd’s broker Cavendish Munro, also GRP owned, has acquired Eastbourne-based Professional Insurance Agents Ltd (PIA).
Green deals
On the two Greens deals, Green chief executive Duncan Coleman said the acquisitions would accelerate business growth.
Coleman said: “We are delighted to welcome Andrew Briggs, Kevin Barnard and the Reid Briggs team to Greens, and extend the same welcome to Bill Morley and the Clifton Morley team.
“They are experienced professionals with strong and longstanding relationships in the local business communities they serve.”
Clifton Morley will immediately move into Green’s Dartford office, while Reid Briggs will remain in its current premises in Eastbourne.
“They will enhance our local presence in Kent and Sussex, and we look forward to them playing an active role in extending our reach across the South East,” Coleman said.
“When Greens was acquired by GRP in June 2017, we said we would double the size of the business. Since then we have acquired Collidge and Partners, Insurance Services (West End), Eclipse Insurance Services, and now Reid Briggs and Clifton Morley.
“These latest two acquisitions add a further £9.2m of Gross Written Premium to the business. We will continue to acquire businesses that help us deliver our ambitious growth plans.”
First acquisition
For Cavendish Munro, PIA is the first acquisition the completed by the broker since it was bought by GRP in 2016.
But the Cavendish Munro chief executive Paul Byrne said he was confident there would be more to come.
Byrne said: “PIA is a perfect strategic fit for Cavendish Munro and the combined businesses will be able to offer a much wider range of products and insurers to our clients.”
PIA’s curreny chief executive Graham Hearsey and other directors, Karler Mears and Lynn Hearsey who founded the business over 20 years ago, will retire from PIA once the deal is completed. Fellow directors Ellie Hearsey and Kelly Fyfe will take over running the business.
Byrne added: “I’d like to wish Graham, Karler and Lynn well for the future. They leave a highly successful business in the capable hands of Ellie and Kelly, and I look forward to working alongside them both and the rest of the PIA team to take it on the next stage of its journey.”
Reid Briggs has over 50 years’ experience offering personal and commercial insurance solutions in primarily the Eastbourne, East Sussex area.
Clifton Morley is a commercial lines retail broker, and specialises in taxi insurance for individuals and fleets across the UK.
PIA specialises in financial lines insurance products such as PI, D&O, medical-related insurance, as well as SME and mid-corporate commercial insurance.
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