AssuredPartners buys recycling specialist broker GM

Founded in 2004, GM provide a range of commercial insurance solutions across various industry sectors, including trade and construction, and specialises in placing coverage for the recycling industry. The firm is a Lloyd’s coverholder.

Handling in the region of £10m gross written premium, the entire team will remain in their current roles and continue under the leadership of joint managing directors Gavin Mead and Lee Galan-Davis.

Ambitious

David Heathfield, CEO of AssuredPartners UK and Ireland, said: “We met the team at GM through a recent acquisition, and knew immediately that they would be a great addition to our growing network of companies.

“Gavin and Lee have built a great business over the years and have ambitious plans for growth. We look forward to working with the entire team, and providing them with the support that will allow them to accelerate the growth of their company in the years ahead.”

Chapter

In a joint statement Mead and David added: “The approach of AssuredPartners was refreshingly different and, after meeting the senior team, we were excited about the future with AP.

“We are really proud of what we have achieved, and firmly believe that this new chapter gives us the opportunity to keep growing the business without compromising on our ethos which has served us so well.”

Deals

In March, AssuredPartners has acquired South West Brokers, which trades under the name of Westinsure Plymouth, and the general insurance business assets of Sterling Select Insurance Services and Castle Sundborn in April through another business it owns: PSP Group.

Its most recent purchase was Kent-based event specialist broker InEvexco in May.

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