AssuredPartners UK & Ireland, part of US-headquartered brokerage AssuredPartners, has snapped up Romero Group in Leeds.
In a release, AssuredPartners UK&I chief executive David Heathfield said: “It’s not just the scale of Romero that sets it apart from its independent peers but the way in which the business has been structured to ensure clients receive an unrivalled level of service from placement to claims advocacy.
“Our largest acquisition to date, the addition of Romero to our growing group is a key milestone in our expansion plans and the combination of these two powerful brands will create better solutions for our clients and provide great opportunities for all staff.”
Set up in 1997, Romero is the name behind Romero Insurance Brokers and Club Insure. Subsidiary Sentient Group, Romero’s first-ever swoop, was acquired in late 2022. Manned by more than 200 people across five regional offices in the UK, Romero controls over £100 million of gross written premium.
Commenting on the transaction, financial terms of which were not disclosed, Romero group managing director Simon Mabb said: “I’m really pleased that we have been able to find the forever home for the Romero businesses. We were very clear that we had to join a business with the same cultural alignment for our staff and clients.
“I’d also like to thank all the team at Romero for their hard work over the years to make the businesses the huge success they are today. Lastly, I’d like to publicly thank Justin for his unwavering support to me personally over the last 15 years, I look forward to working with him and the AssuredPartners team to continue our journey.”
The group MD was referring to founder and group chief executive Justin Romero-Trigo, who will remain at the helm alongside Mabb and group chief operating officer Victoria Romero-Trigo.
“AssuredPartners has met all our requirements in continuing our exceptional service to our clients,” the group CEO noted. “I am proud that after 26 years we have secured a like-minded partner who will allow us to continue and reinforce our growth trajectory.
“I would like to pay testimony to my staff and management team who have given me 100% at all times – we have and continue to achieve greatness in every area we operate in. Our constant drive for change and growth is in-built in our DNA, and we needed a partner that we could continue to flourish our entrepreneurial spirit.”
He added: “I am pleased to say that in AssuredPartners we have found the perfect partner, and with our strong leadership through Simon and myself we are in safe hands.”
Under new ownership, Romero will stay intact staff-wise, with the team joining AssuredPartners’ more than 9,000 colleagues.
What do you think about this story? Share your thoughts in the comments below.
