The move is in line with its plan to expand reach in the US management liability market.
The move intends to drive profitable growth for its wholesale brokerage division.
The company looks to strengthen its carrier and market relationships.
The move will see its existing backer The Carlyle Group re-invest for a minority stake.
The company seeks to expand its presence in key international re/insurance markets.
The broker seeks to bolster its offering in the mergers and acquisitions (M&A) insurance market.
The insurer has enhanced its offering using AI to provide better insights to policyholders.
Insurance covered $97 billion of natural disaster losses in 2020, according to Aon.
The company believes a number of capacity providers are returning to the market following new FCA regulation.
The deal aims to drive expansion of GRP’s healthcare operation in the UK market.