Cavendish Munro snaps up Professional Insurance Agents Ltd

Insurance Business America | May 03, 2019

Cavendish Munro snaps up Professional Insurance Agents Ltd
Specialist professional indemnity broker Cavendish Munro, which was itself acquired nearly three years ago, has made its own swoop. For an undisclosed sum, the Global Risk Partners (GRP) firm snapped up Professional Insurance Agents Ltd (PIA). Based in Eastbourne, PIA specialises in financial lines insurance products such as professional indemnity, directors and officers (D&O), medical-related insurance, as well as SME (small- and medium-sized enterprises) and mid-corporate commercial coverage. Upon completion of the deal, PIA chief executive Graham Hearsey and directors Karler Mears and Lynn Hearsey will retire. Tapped to be in charge of future operations are directors Ellie Hearsey and Kelly Fyfe. “PIA is a high-quality specialist broker and seamlessly complements our own proposition,” noted Cavendish Munro founder and managing director Paul Byrne, who described PIA as a “perfect strategic fit” for them.

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