Less than a week after the last acquisition announcement, Aston Lark, the Chartered insurance broker backed by Goldman Sachs, has today announced the acquisition of two brokers owned by Risk Alliance Group, a subsidiary of Accelerant Holdings Ltd: Risk Alliance Limited and Risk Alliance International Limited.
Risk Alliance Limited is a specialist Schemes broker based in Bingley, West Yorkshire, with specialisms in photographers, the leisure sector and non-standard household. Risk Alliance International Limited is a Belfast-based broker with a particular focus on the haulage and logistics industries.
Both brokers were previously part of the Risk Alliance Group, which includes NBS, and were acquired by Accelerant in September 2019. Accelerant is an insurance company focused on supporting a carefully selected network of member MGAs across the UK, EU and the US.
Chris Lee-Smith, Head of Distribution at Accelerant, said: “Accelerant is a pure underwriting group and, as such, it was always our intention to partner with a broker to find the next home for the broking businesses acquired with the acquisition of Risk Alliance Group. Aston Lark were the natural partner for us as we wanted to find an excellent long-term home for the quality teams in Belfast and Bingley. This deal leaves Accelerant with NBS, which is a pure underwriting entity.”
Peter Blanc, Group CEO of Aston Lark, said “We are very excited to have added both Risk Alliance and Risk Alliance International to the Aston Lark family. Geographically, both acquisitions are an excellent fit for Aston Lark giving us our first presence in Northern Ireland and our first presence in Yorkshire. We look forward to working with the management teams, comprising Adrian Wilson and Gareth Morgan in Belfast and Daphne Pickles, Daniel Hobson and Abbie Mason in Bingley, to help them to grow in their various areas of specialism.”
The deal sees a total of 14 staff move across to Aston Lark in Bingley and a further 9 members of staff in Belfast, with a combined GWP of £12m across the two businesses.