UK-based insurance broker Aston Lark Group has continued its growth trajectory by acquiring two firms, Innovation Broking and Philp Williams & Company.

Financial terms of the deals were not made public.

An independent corporate insurance broker, Innovation Broking prioritises larger risks, private equity-backed businesses as well as global programmes.

It focuses on a range of industries including health, film, charities, technology, among others.

The firm, set up in 2015, has presence in London and Watford.

As part of the deal, all 30 employees of Innovation Broking will be retained.

Innovation Broking CEO Paul Dickson said: “Innovation has grown into a great business in the last five years, and this is thanks in part to our backing from Albion Capital who have supported us since our formation.

“I’m also very excited that Innovation will be heading up a corporate practice unit as part of Aston Lark’s retail division and we will continue to build on our specialisms in the tech, emerging risks and the charity and care sectors. I am also very pleased to be asked by Peter to Chair Aston Lark’s broking and benefits companies from early 2022.”

Philp Williams & Company offers group insurance schemes to the Police Federations as well as other UK law enforcement agencies.

The business, with a staff headcount of over 30, was set up in 1975 in Stockton Heath, Warrington.

Aston Lark Group CEO Peter Blanc called the firm an “excellent” cultural fit.

Reiterating similar views, Philip Williams & Company managing director Steven Williams called Aston Lark a “perfect partner” with “shared ethics and ideology”.

“We are very much looking forward to building the business going forward, with the additional resources and expertise that the Aston Lark Group can bring to the table,” Williams stated.

Last month, Howden agreed to buy Aston Lark from Goldman Sachs Asset Management and Bowmark Capital.

The same month, Aston Lark snapped up insurance broker Bainbridge Collins, which focuses on the ‘mid corporate’ sector.