Waukee, Iowa-based Holmes Murphy, an employee-owned and controlled insurance brokerage, has expanded its footprint into the international space by acquiring Global Captive Management (GCM).
GCM is no stranger to Holmes Murphy, specifically the Innovative Captive Strategies (ICS) subsidiary. GCM manages several of ICS’s captive programs, and the two companies have a history that dates back two decades. In that time, the two leadership teams have built a phenomenal relationship with a like-minded business approach — an aggressive growth strategy and a complementing culture
“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,” Holmes Murphy Chairman and CEO Dan Keough said in a media release. “I look forward to continuing our relationship and expanding our expertise as an organization.”
GCM, founded in 1982 by Peter MacKay, is considered one of the largest independent captive management companies in the world and is licensed in three locations: Cayman Islands, South Carolina and New Jersey.
Through the acquisition, GCM 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 and Tom Stewart will join GCM’s leaders to oversee governance and management responsibilities.
Source: Holmes Murphy
Topics Mergers & Acquisitions Iowa
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