GRP promotes Bruce to group MD

Broking group Global Risk Partners (GRP) has appointed Mike Bruce to the newly created role of group managing director.

Bruce joined GRP in 2015 as CEO broking and his responsibilities include all broking businesses.

GRP is a vehicle aimed at acquiring brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets. It was established in 2013 by Peter Cullum, chairman, and David Margrett, CEO, and is backed by private equity firm Penta Capital.

Margrett commented: “Appointing Mike as Group MD is the right step forward at this exciting phase of GRP’s development. He has been instrumental in the success of our Broking Division, not only in working with the wider senior team to deliver on our strong acquisition pipeline, but also to successfully integrate acquired businesses into the Group infrastructure, and create an environment in which they can thrive and grow within GRP.”

Bruce said: “GRP is a unique business with entrepreneurship programmed into its DNA. I am proud to have the opportunity to step up to this new role and lead a high calibre team, many of whom have built their own successful businesses. We have a clear strategy and I look forward to ensuring that we continue to execute on this, enhancing the value we deliver for our customers and insurer partners, and ensuring that GRP is a great place to work for our staff”.

GRP acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability. The company has acquired 36 businesses to date, with 12 acquisitions in 2018.

Cullum said: “The Group has progressed from start up to one of the top three independent brokers in the UK in a very short period. The time is now right for us to restructure our senior management team to maintain that momentum.

“I would like to congratulate Mike on his appointment as group MD. His energy and expertise has been key to the success of our broking division, and I have no doubt that he will be equally successful in this broader role within the group.”

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