Leading residential property sector insurance group Hamilton Fraser has been acquired by Global Risk Partners (GRP) for an undisclosed sum just a few months after celebrating its 25th anniversary, subject to regulatory approval.
Hamilton Fraser has grown since it was founded in 1996 into one of the major insurance, services and product providers to both landlords and letting agents within the UK.
It also operates three of the sector’s government-approved schemes; mydeposits, the Property Redress Scheme and Client Money Protect, plus it also owns the UK’s leading evictions service provider Landlord Action and insurance-based deposit alternative platform Ome.
All 223 of the group’s staff will remain employees of HFIS Ltd as will its senior team including CEO Eddie Hooker (main picture), who helped found Hamilton Fraser and continues as a significant shareholder.
“Hamilton Fraser is joining forces with a like-minded business in GRP, which like us has seen the future of insurance and realised it will become increasingly digital which is particularly true within the property industry,” says Hooker.
“GRP proved to us that they would be the right home for Hamilton Fraser.
“I’m confident they are the best custodians for our business, our people and our loyal clients as we embark on the next exciting stage of our development.”
Stephen Ross, GRP’s head of M&A, says he was impressed with the “sheer quality of the business, which has an outstanding track record of success in its chosen niches and is a superb fit for GRP”.
“Hamilton Fraser is a high-class brokerage with a strong commitment to digital innovation and customer-centricity, built on a deep understanding of the specialist markets in which they operate.”
Hamilton Fraser will continue to trade under its existing brands and will sit within GRP’s high-growth digital division headed by Steve Anson, its COO
GRP is one of the largest independent insurance intermediaries in the UK with nearly 30 specialist insurance brands and itself was acquired via a majority shareholding by global private investment firm Searchlight Capital Partners in 2020.