Consolidation continues apace within the UK brokerage sector, as the effects of automated admin, claims handling and AI-assisted risk underwriting feeds through to the customer facing sales websites. In short, the timing is perfect for rolling up all kinds of brokers – if you have the money. Here’s the latest acquisition news;
Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has today announced its first acquisition of 2020 – Isca Barum Insurance Brokers.
Isca Barum is an independent insurance broker offering a full range of insurance services to both corporate and private clients across the UK, with a specialism in smallholding and farm insurance. With a GWP of over £5m, Isca Barum has grown both organically and through acquisition over the past 40 years and now has over 20 employees operating from its head office in Exeter and regional office in Barnstaple.
Peter Blanc, Group CEO Aston Lark, said “We are delighted to welcome Bruce, Sarah, Andy, Simon and the whole team to the Aston Lark family. Isca Barum clearly shares our views around client service and we know that they’ll be a fantastic addition to the group.”
Bruce Archibold, MD Isca Barum, added: “We have been talking to Aston Lark for some time and over that period built up an increasing affinity with the way they work and with their people, who are all nicely grounded. We are looking forward to building on that from within the Aston Lark Group.”