DR&P Group confirms MGA addition in annual results
Private equity-backed broker holding company DR&P Group added a managing general agent to its roster in 2022, buying 80% of MGIC Holdings, the business has confirmed in its annual results.
Merseyside-headquartered DR&P Group had made five acquisitions in 2021 after PE house Inflexion invested, saying it would support the business to grow organically and through buying.
In 2021 DR&P Group also secured funding from Ares Management.
The latest filing at Companies House showed that last year DR&P Group snapped up MGIC, along with 100% of subsidiary firm MG Insurance Consultants.
Separate documents on Companies House showed the deal went through on 31 May 2022.
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