Giles acquires again in Wales

by David Masters

Story link: Giles acquires again in Wales

Giles Insurance has acquired the Wales-based broker Paul Murphy Insurance Services for an undisclosed sum, marking the second Welsh acquisition for the company within a week.

The acquisition is the tenth for Giles since March this year, and is a key part of the company’s growth strategy.

Charthouse Capital Partners acquired a stake in Giles in March, and together with the Bank of Scotland has provided £500 million for the group to make acquisitions.

Through both acquisitions and organic growth Giles aims to reach £1 billion in turnover through both acquisitions and organic growth.

Paul Murphy Insurance Services offers a range of insurance, including personal and commercial cover.

Managing director Paul Murphy said that he is ‘extremely pleased’ with the merger.

Mike Jones, a manager at Giles Insurance, said that the acquisition marks the company’s determination to continue expansion across the UK, and especially in Wales.