Global Risk Partners Ltd (GRP), the specialist vehicle for acquiring brokers and MGAs, has completed its twelfth acquisition since March, after buying 100% of the equity of Anglo-Hibernian Bloodstock Insurance Services Ltd (Anglo-Hibernian), the specialist bloodstock and equine broker.
Anglo-Hibernian is based in Newmarket, the home of horseracing, and writes £3m GWP annually. CEO Jim Wordsworth said the business was founded in 1997, and has since become one of the established players in the bloodstock sector.
GRP bought Alan & Thomas brokers earlier in 2017 and purchased Yorkshire based Commericial Insurance brokers Marshall Wooldridge in 2016.
Mike Bruce, GRP’s CEO Broking, said that Anglo-Hibernian will complement the specialist bloodstock division in GRP-owned Lonmar Global Risks, the leading broker for international bloodstock insurance in the London Market.
The Lloyd’s bloodstock insurance market underwrites around £80m of net premium annually of which Lonmar is the largest contributor.
He said: “We are delighted with this opportunity to build our specialist bloodstock portfolio, and warmly welcome Jim and his team of specialists to GRP.”
Jim Wordsworth said: “This was an opportunity that fell into the ‘too good to miss’ category, especially as we have a relationship with Lonmar that goes back over 20 years.”
He added: “The added muscle that Lonmar and GRP provide will enable us to get bigger, quicker in the UK and I am very excited by the opportunities for Anglo-Hibernian as part of the wider group.”
The purchase price for Anglo-Hibernian remains undisclosed.