Global Risk Partners completes second deal in Northern Ireland
Global Risk Partners (GRP), an insurance broking and managing general agent investment vehicle, has funded the acquisition of Northern Ireland-based commercial and personal lines broker McGrady by Abbey Bond Lovis (ABL).
This is GRP’s second deal in Northern Ireland. It also supported the management buyout of ABL in August 2015. As a result of this latest investment, GRP will control in excess of £35m of insurance premium across ABL and McGrady.
Fintan McGrady, the owner of McGrady, will continue to run the business. Fintan McGrady said: “Selling my business was a big decision. I am convinced GRP is the ideal vehicle for our business to prosper going forward, especially with the local knowledge they have gained through their involvement with ABL.
“I look forward to being part of an expanding retail broking business in Northern Ireland, whilst maintaining our local identity.”
Mike Bruce, CEO Broking for GRP, said: “It was always in our plans to increase our footprint in Northern Ireland following our investment in ABL, and we are pleased to have been able to do this so quickly, and with the acquisition of a business of such quality. We are delighted to welcome Fintan and his colleagues to GRP.”
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