Aston Lark, which was named one of Insurance Business UK's (IBUK) fast brokerages this year, has swooped for UKGlobal Broking Group (UKGlobal) – its 50th acquisition since its formation in 2018. The deal comes less than two weeks since it officially became part of the Howden Broking Group (Howden).
UKGlobal arranges insurance for a wide range of commercial sectors, including specialist schemes and association partnerships and private clients, and supports clients through 10 regional offices. Its healthcare division offers private medical insurance solutions to businesses to protect their employees, while its UKGlobal Group Risk division offers group risk insurance and business protection insurance.
In a Press release, Aston Lark noted that UKGlobal's management and team members will remain with the business, while the UKGlobal brand will remain intact for now as the company continues to grow significantly using the scale and resources of Aston Lark and Howden.
UKGlobal group CEO Matthew Bray stated that finding the right cultural match was imperative during the sale – and that Aston Lark shares the same fundamental values that underpin UKGlobal and “the way we care for our people, clients, and insurer partners.”
“We have enjoyed fast growth in the last five years, and when [Aston Lark group CEO Peter Blanc] 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,” Bray said.
Blanc also commented on the acquisition and said highlighted that he has known UKGlobal’s senior team – including Bray, group executive chairman Nic Hamblin, UKGlobal Risk Solutions CEO Phil Truman and UKGlobal investor Philip Hodson for many years. They are first-class insurance brokers, he said, 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.
“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.”
The deal with UKGlobal follows Aston Lark's acquisition of specialist corporate insurance broking firm Braddons.