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Holmes Murphy acquires Cayman-based Global Captive Management


Holmes Murphy, one of the nation’s largest employee-owned and controlled insurance brokerages, announced today it has expanded its footprint into the international space by recently acquiring Global Captive Management Ltd., which is based in the Cayman Islands. Financial terms of the acquisition were not disclosed by the Waukee-based brokerage. Global Captive Management, founded in 1982, manages several captive insurance programs for Innovative Captive Strategies, a subsidiary of Holmes Murphy, and the two companies have a history that spans two decades. “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.” Global Captive Management will continue to operate under its current name, structure and employees. Its founder, Peter MacKay, will continue leading the team and will supervise day-to-day operations. Keough and Tom Stewart, president of Innovative Captive Strategies, will join GCM’s leaders to oversee governance and management responsibilities. 

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