GRP is one of the top independent insurance intermediaries in the UK. Since its launch in 2013, the group has grown rapidly and now controls over £700m premium. The group comprises of a national network of insurance brokers, an underwriting division and are leading Lloyd’s of London brokers.
MVP was set up in 2014 by a team of insurance industry experts who have over 35 years’ experience of successful insurance investment. MVP provides funding for UK insurance brokers who wish to release capital from their business but retain control.
The asb team advised MVP in the sale of its minority interest to GRP. The deal involved complex share structures between multiple parties and required careful negotiation and coordination. The team was led by Legal Director, Mark Diamond (Corporate Finance) who was supported by Charlotte Lane (Corporate finance) and Lorraine Reynolds (Corporate Finance) in the process.
Speaking of the sale, Mark Diamond said: “MVP continues to be active in the insurance market. Taking or disposing of a minority interest brings its own challenges, but the understanding of MVP that we’ve gained from having acted for them on a number of recent deals, means we were able to navigate the issues and complete the transaction satisfactorily. It was a pleasure working with MVP again and we look forward to helping them with their plans in the future.”