Established in 1996, PCH provides a suite of group risk and protection products to SMEs and individual customer base
The transaction marks the first acquisition for GRP in the health insurance sector. (Credit: Pixabay/Adam Radosavljevic)
UK-based casualty insurance agency Global Risk Partners (GRP) has agreed to acquire Premier Choice Healthcare (PCH), a healthcare insurance broker, for an undisclosed amount.
The transaction marks the first acquisition for GRP in the health insurance sector and PCH would become the company’s healthcare hub, after the deal is closed.
It is also its first acquisition since Searchlight completed its investment in the group.
GRP M&A head Stephen Ross said: “Our intention is to drive further acquisitions of healthcare businesses and portfolios, expanding our overall proposition to offer both new and existing clients a suite of healthcare products alongside our existing services.”
“We believe that there is significant M&A opportunity in the healthcare market. We are keen to mirror the acquisition success we have had in the UK regional general insurance market.
“With Searchlight’s support and their significant capital backing, we intend to rapidly grow our market footprint and have already developed a strong pipeline of transactions.”
GRP aims to accelerate business with the acquisition of Premier Choice Healthcare
PCH managing director Claire Ginnelly will continue to lead the business after the completion of the transaction, along with Teresa Ostle serving as operations director. Richard Holden, who worked at Chase Templeton, will be appointed as commercial business director for PCH.
Established in 1996, in Towcester, PCH provides a suite of group risk and protection products to SMEs and individual customer base. The company is said to control approximately £60m ($74.3m) of GWP.
Established in 2013, GRP is said to have grown organically and via the acquisition and integration of 59 regional brokers, specialist MGAs, and Lloyd’s businesses.