GRP delivers on MGA appetite with Nucleus buy
Global Risk Partners has bought Nucleus Underwriting, its first managing general agent acquisition since being taken over by Brown & Brown last year.
US giant Brown & Brown’s £1.48bn buy of GRP from PE firm Searchlight was announced in March and completed in July.
Upon completion GRP CEO Mike Bruce told Insurance Age that buying MGAs – it already owned Plum Underwriting and Camberford Law – was rising up the consolidator’s buying plans.
Bruce said in August: “We have looked at many other MGA opportunities and it didn’t fit the financial modelling.
“The ones we are talking to are all niche and specialist. They are all different sizes, some
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