Global Risk Partners has completed the purchase of commercial broker SB2, the holding company for KPTI trading as IS Insurance Solutions.
KPTI is a commercial lines broker specialising in the property owners and combined commercial markets. The holding company, SB2 Ltd, was formed in 2019 by current directors Bram Vyas and Shamit Malhotra. The North West London-based business, will join GRP’s retail division. All directors and employees will stay with the business, and the brand and head office will remain.
Stephen Ross, GRP’s head of M&A, said KPTI is a “smart, forward-looking and entrepreneurial brokerage with an appetite to expand its capabilities as part of GRP’s retail division”.
“Bram and Shamit are skilled practitioners who value good and trusted relationships with their customers and existing insurer partners. They and their team see a great opportunity to deliver growth as part of GRP, and we warmly welcome them to the group.”
Bram Vyas and Shamit Malhotra added: “GRP’s track record of support for entrepreneurial management teams is well known in the commercial broking market, and the added attraction of being part of the Brown & Brown team made it an easy decision for us to place our future with the group.”
“We are very excited about the new opportunities this deal provides for us, in particular the additional range of products and services we can provide for our customers, drawing on the strengths of GRP in the market.”
YOU MIGHT ALSO LIKE