IMAP's team in Ireland, Key Capital, represented Crotty Insurance Brokers in its majority sale to Global Risk Partners (GRP). The deal, GRP’s first in the Republic of Ireland, will see Crotty’s Dublin offices becoming GRP’s ROI hub and signals its intention to seek further acquisitions in the country.
Crotty Insurance, which was founded by Finbarr Crotty in 1994, is one of the leading independent commercial insurance brokers in Dublin. It offers tailor-made insurance services and solutions to a diverse corporate client base and has established specialisms in Renewable Energy, Construction and Professional Services industries, among others.
GRP was founded in 2013 and has grown rapidly to become one of the UK’s leading independent insurance intermediaries, with Gross Written Premium in excess of £800m and over 1,600 employees. During this time, the Group has acquired and integrated over 60 regional brokers, specialist MGAs and Lloyd’s businesses. The group acquires businesses, teams and portfolios that have niche, non-commoditized, specialty propositions and strong profitability. GRP was backed by Penta Capital in its inception in 2013 and in June 2020 successfully completed a second investment from Searchlight Capital Partners, a global private investment firm.
The IMAP Ireland team, led by Jonathan Dalton, Niall Morris and Piaras Murdock, advised Crotty throughout the sales process.