Holmes Murphy has expanded its international presence with the acquisition of Global Captive Management.
Global Captive Management manages several captive programmes of Innovative Captive Strategies, a Holmes Murphy subsidiary.
As part of the acquisition, Global Captive Management will continue to operate under its current name, structure, and employees.
Peter MacKay will continue leading the team and supervise day-to-day operations.
Dan Keough, Holmes Murphy Chairman and CEO, and Tom Stewart, Innovative Captive Strategies president, will join Global Captive Management’s leaders to oversee governance and management responsibilities.
Keough said: “Our relationship with GCM has strengthened over the years, and we are confident that this partnership will position us to be even more competitive as we embrace future business opportunities.”
Stewart added: “This acquisition is an extension of our current management presence and allows us to round out our international captive capabilities. This aligns with our long-term goals, and we couldn’t be happier to bring Global Captive Management onboard.”
In addition, Holmes Murphy, along with M3 Insurance, PayneWest Insurance, ABD Insurance & Financial Services, Conner Strong & Buckelew, and Assurance, recently launched BrokerTech Ventures, a programme specifically for investors and innovators building the next generation of technology solutions for insurance agencies and brokerages.
BrokerTech Ventures will deploy a highly intentional accelerator curriculum, as well as a veteran mentoring network, seed funding for a portion of the chosen startups’ research and testing, and a distribution platform to deploy the technologies.
Keough said: "BrokerTech Ventures will alleviate some of these pain points by creating an ‘innovation hub’ for startups to test broker-centric ideas and products while bringing new and innovative ideas and solutions to our customers.”
