Global Risk Partners Ltd (GRP), the specialist vehicle for acquiring brokers and MGAs, has completed its twelth 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.
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 consideration is undisclosed.