Global Risk Partners Completes Acquisition of LONMAR

Global Risk Partners Ltd., the insurance broking and managing general agency (MGA) investment vehicle, has completed its backing of the management buyout of LONMAR Global Risks, the London-based specialist Lloyd’s broker.

Originally announced last month, the transaction was subject to regulatory consent, which has now been received, Global Risk Partners said in a statement.

David Margrett, chief executive of Global Risk Partners, said “We are delighted that the LONMAR MBO has been completed. We are looking forward to working with David Pexton and his team in implementing their exciting growth strategy, whilst maintaining LONMAR’s emphasis on providing the quality service and innovative approach that their clients expect.”

At the time of the original announcement, Pexton said: “With GRP’s backing we will significantly accelerate our strategy with the acquisition of individuals, teams and businesses…”

Source: Global Risk Partners