BHP Insurance

Date of Melior Investment: 2021

Description: Leading insurance broker operating in the Irish not-for-profit sector

Website: www.bhpinsurance.ie

Investment Team:
Peter Garvey
Esmond Greene
Shane O’Brien

Status: Realised

Founded in 1998, BHP Insurance (“BHP”) is a leading non-life insurance broker in the not-for-profit sector in Ireland, providing over 5,500 policies to over 5,000 clients from its base in Blanchardstown, Co. Dublin.

The company operates across three business lines – Community & Voluntary, Social Housing and Charities, and has developed a market-leading position within these niche sectors.

In 2021, Melior acquired a majority stake in BHP and concurrently acquired Keegan Meredith and Williams Insurances (“KMW”), a Dublin-based generalist commercial insurance broker.

In December 2022, Melior agreed the sale of BHP to PIB Group Ltd, a London based insurance intermediary.

Value Creation Case Study

Strengthened Core Business

  • Deepened underwriter relationships while achieving growth in retention rate
  • Materially upgraded MIS and reporting

Organic Growth

  • New business productivity grew by >2x through investment in team and resources
  • Hired new commercial team

M&A

  • Executed bolt-on acquisition at entry, providing greater scale and diversity of capabilities
  • Strong pipeline of acquisitions which were highly valuable to buyer at exit

Enhanced Resources

  • Over 40% increase in number of employees
  • Enhanced management resources through sourcing new CFO, Head of Business Development and Head of Compliance
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