Holmes Murphy Adds International Presence with Captive Management Organization Acquisition
Global Captive Management acquired by Innovative Captive Strategies’ parent company.
Holmes Murphy, one of the nation’s largest employee-owned and controlled insurance brokerages, officially expanded its footprint into the international space by recently 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,” said Holmes Murphy Chairman and CEO Dan Keough. “I look forward to continuing our relationship and expanding our expertise as an organization.”
“This acquisition is an extension of our current management presence and allows us to round out our international captive capabilities,” added ICS President Tom Stewart. “This aligns with our long-term goals, and we couldn’t be happier to bring GCM on board.”
Since being founded in 1982, Peter MacKay has built GCM into one of the largest independently owned captive managers in world. “This acquisition will not only strengthen our organization, but it will also allow us to enhance our future capabilities,” commented GCM Chairman and CEO Peter MacKay. “We have worked closely with ICS for a long time and have witnessed the diligence their organization possesses.”
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.
About Holmes Murphy
At Holmes Murphy, we pride ourselves on selling “thinking,” not insurance. In a nutshell, we sell the cumulative knowledge and experience that make insurance and businesses work better. It’s a philosophy that’s worked for us since our inception more than 87 years ago. As an independent brokerage, we serve business and industry leaders across the nation in the areas of property casualty insurance, employee benefits, captive insurance, risk management and loss control. For more information on Holmes Murphy, to include specialties, locations and what makes us tick, visit www.holmesmurphy.com. You can also follow us on Twitter.com (@holmesmurphyins) or visit us on Facebook, LinkedIn, or Instagram.
About Global Captive Management LTD
GCM was founded in 1982 by Peter MacKay. GCM 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. As a captive manager, GCM has been changing the landscape of captive insurance by delivering excellence and a pro-active view for over 35 years. GCM’s extensive knowledge, partnerships, flexible approach, and tax experience helps the company provide objective and independent guidance to all its clients.