Goldman Sachs-backed insurance broker Aston Lark has acquired two new brokers that were owned by Accelerant Holdings-subsidiary Risk Alliance Group.
The two acquired entities are Risk Alliance and Risk Alliance International.
Based in Bingley, West Yorkshire, Risk Alliance is a specialist Schemes broker. On the other hand, Belfast-based Risk Alliance International focuses on the haulage and logistics industries.
As part of the deal, a total of 14 members from Bingley and another nine from Belfast will migrate to Aston Lark.
Aston Lark Group CEO Peter Blanc 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.”
Accelerant Distribution head Chris Lee-Smith 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.”
Earlier this year, Aston Lark acquired Isca Barum Insurance Brokers, an independent insurance broker based in Exeter.