Peter Cullum
GRP set to become US broker Brown & Brown's largest acquisition to date
GRP group CEO Mike Bruce has hailed the opportunities afforded by being free from the ‘mousetrap’ of private equity with the business poised to become the largest acquisition to date by US broking giant Brown & Brown.
GRP's 2019 acquisition spend revealed
Loss-making GRP, which posted its third consecutive loss last month, acquired ten businesses last year for a total cost of £68.8m.
GRP remains fully focused on 'growth through acquisition' as it reports a loss before tax of £17.9m
In its report and accounts for the financial year ended 31 March 2019, broking group GRP reported a 48% increase in turnover to £112.1m (2017/2018: £75.9m), a rise in operating profit £27.8m (2017-18: £10.2m), and the equivalent EBITDA from the group’s…
Searchlight trained on GRP as broker eyes PE deal
Global Risk Partners is in discussion with three private equity firms including Searchlight Capital Partners about taking a majority holding in the consolidator, Post can reveal.
GRP buys equestrian broker
GRP has acquired Hertfordshire-based equestrian broker Shearwater, for an undisclosed amount.
Loss-making GRP spent £112.6m on acquisitions over its last financial year
Broking group GRP made a loss of £20m for the financial year ended 31 March 2018, in a year that saw it acquire fifteen businesses.
Mike Bruce promoted to GRP group managing director
GRP CEO of broking, Mike Bruce has been promoted to group managing director.
GRP scoops up U-Sure in 10th acquisition of the year
GRP has acquired Lloyd’s coverholder U-Sure Insurance Services for an undisclosed sum.
Latest GRP broker will seek acquisitive growth
GRP has acquired a majority stake in DCJ Group Insurance and Risk Management, for an undisclosed sum.
Cullum firm snaps up commercial business
Peter Cullum-owned Trimulgherry Investments has purchased Hurst Group’s commercial business and will be creating a new broker.
GRP hires Clive Nathan as CEO of MGA division
Global Risk Partners has appointed Clive Nathan as CEO of the group’s managing general agent division.
Peter Cullum to sue Towergate
Exclusive: Peter Cullum, the man who founded Towergate over 20 years ago, has lodged a financial claim against the company.
Broker investments: What makes the sector so appealing to private equity?
There have been a string of investments in the insurance broking sector over recent years – from refinancing to MBOs. Just what is it about the market that makes it so attractive to private equity?
PIB tipped to make rival Jelf bid as GRP refutes interest
Brendan McManus’s PIB has been tipped as a potential alternative bidder for Jelf amid doubts other businesses have the financial firepower to outbid broking giant Marsh.
Maciver ‘coaxed off golf course' to join Cullum at GRP
Towergate Partnership founding shareholder Kenny Maciver has joined Peter Cullum-backed Global Risk Partners to work on mergers and acquisitions.
Blog: Five recent insurance industry comebacks
While many insurance workers claim to have "fallen" into the industry there seems to be a strange magnetism that draws people back after bidding the sector farewell.
Towergate's Perry joins Cullum's MVP
Former Towergate migration programme director David Perry has joined Peter Cullum's funding vehicle Minority Venture Partners as investment director.
Editor's comment: The broking merry-go-round
So far, 2015 has been a year of broking management merry-go-rounds – we’ve seen big names like David Ross move from Arthur J Gallagher to Towergate, while broking investors Peter Cullum and Andy Homer have cut ties with Towergate to go their separate…
News Editor's Comment: Countdown to the election
With just three weeks until a general election where the only certainty looks set to be the absence of an overall majority, business leaders across the UK are clamouring for a combination of progress and stability.
Other offers undervalued Towergate, claims interim boss
Rival bids for Towergate were lodged but all undervalued the business, the company's interim CEO Alastair Lyons has said.
Towergate agrees restructuring as senior creditors take control
Towergate has agreed a new capital structure which will see existing shareholders wiped out.