Aston Lark has acquired UKGlobal Broking Group for an undisclosed sum.
The acquisition is Aston Lark’s first since officially becoming part of the Howden Broking Group last month and 50th overall. Howden first revealed it was buying Aston Lark from Goldman Sachs and Bowmark Capital last October.
UKGlobal Broking Group arranges insurance for a broad range of commercial sectors, including via a number of specialist schemes and association partnerships, and also private clients.
The business supports clients from a network of 10 regional offices and also has international capability. Its healthcare division offers private medical insurance solutions to businesses to protect their employees, while UKGlobal Group Risk offers group risk insurances and business protection insurance.
Aston Lark confirmed the firm’s management and team members will all remain with the business, and the UKGlobal brand will also remain for the foreseeable future.
Peter Blanc, CEO at Aston Lark Group, said he had known the team at UKGlobal for many years.
“They are first class insurance brokers and have a true client-first ethos. They have built an outstanding business and we now have an opportunity to partner together to more than double the business again over the coming few years,” Blanc said.
“I’m delighted that they have chosen to partner with Aston Lark and I’m so excited about what we will achieve together over the coming years. Welcome aboard to the whole UKGlobal team.”
Matthew Bray, group CEO of UKGlobal, added: “We have enjoyed fast growth in the last five years and when Peter approached us, it became apparent that a link-up would accelerate our plans and enable us to offer even more to our clients and team.
“Finding the right cultural match has been imperative and in Aston Lark we have found an organisation that shares the same fundamental values that underpin our business and the way we care for our people, clients and insurer partners.”
Phil Truman, CEO of UKGlobal Risk Solutions, said: “We are joining a forward-thinking business with a remarkable array of capabilities which complement our aspirations. This opportunity will provide us with additional scale in corporate and international broking sectors and we look forward to collaborating with the wider group.”