City law firm Wedlake Bell has advised Global Risk Partners Group (GRP) on its acquisition of U-Sure Insurance Services Ltd (U-Sure), a firm specialising in property insurance.
The acquisition further strengthens GRP’s expanding Underwriting division. The deal has received regulatory approval and the deal value is undisclosed.
GRP is a specialist group with a focus on investing in brokers, managing general agents (MGAs) and teams trading in the UK retail and global, specialty insurance and reinsurance markets. The company’s Gross Written Premium (GWP) currently stands in excess of GBP700 million. This transaction marks GRP’s 34th acquisition since the Group’s formation in late 2013.
Founded in 2005 and based in Cwmbran (South Wales), U-Sure was headed by Ben and Dee Coleman, and is a Lloyds Coverholder. Post-completion, both Ben and Dee Coleman will retain a minority shareholding in the business and U-Sure’s staff (including its directors) will continue to operate under GRP’s ownership.
GRP was advised by the Wedlake Bell Team led by Corporate Partner, Nigel Taylor, and assisted by Rebecca Patrickson, Senior Associate and David Ambler, Associate. The Wedlake Bell Team worked closely with GRP’s General Counsel, Andrew Hunter, and has also advised GRP on its recent acquisitions of a majority shareholding in DCJ Group Insurance and Risk Management; and a majority share in Digney Grant Ltd through GRP’s Northern Irish retail broking hub, Abbey Bond Lovis.
Nigel Taylor, Partner at Wedlake Bell, says: “We’re pleased to conclude another successful deal for Global Risk Partners as it continues with its rapid expansion plan across the breadth of the Group and its various divisions. Our detailed knowledge of our client’s fast-growing business enables us to provide bespoke legal advice to facilitate the Group’s growth.”
