As part of the deal, Flint Insurance will become a GRP retail hub, with its 126 employees – including vendors Darren and David Taylor – remaining in the business. It will also continue to trade under its brand and operate out of its Orpington and Chelmsford offices.
Flint Insurance managing director Darren Taylor commented that the company had tremendous success as an independent broker. However, becoming a part of GRP – including Brown & Brown’s capabilities and investment – was compelling.
“We started talking to GRP some time ago, and while there were attractions to their private equity backing, once they had secured their ‘forever’ platform and we had a chance to meet the team who lead Brown & Brown, it was an easy decision,” Taylor said. “We have seen how the GRP businesses have grown to a new level of success as part of the wider group, and we are looking forward to further accelerating our exciting growth plans with owners who share our customer and employee-focused culture, including staff share ownership.
“The firepower that GRP and Brown & Brown can provide for growth-oriented businesses like ours is second to none in the market. Our clients and the Flint family – our fantastic team of people – will equally benefit from the wider range of products and services we can call on as part of a bigger group.”
GRP group CEO Mike Bruce hailed the latest acquisition, which has already received regulatory approval, as a significant milestone for the company.
“This acquisition underlines our continued appetite, despite the uncertain economic environment, for larger businesses that meet our strict quality criteria and are culturally and strategically aligned with us,” he said. “Flint Group is a brilliantly run brokerage with highly entrepreneurial owner-managers in Darren, David, and their team, who will all fit superbly into our wider group. We look forward to supporting them as they begin the next stage of their successful journey as part of the GRP/Brown & Brown team.
“This acquisition underlines our determination to continue to grow our UK retail business division, utilising our hub and spoke strategy.”
Flint Insurance’s acquisition follows GRP-owned health insurance intermediary Premier Choice Healthcare’s dual deal earlier this month.