Howden Broking Group-backed Aston Lark has announced the acquisition of independent insurance broker UKGlobal for an undisclosed sum.
Manchester-based UKGlobal caters to a wide range of commercial sectors including through several specialist schemes, association partnerships, as well as private clients.
The insurance broker operates nationally through a network of ten regional offices. It is also said to have built an extensive international capability.
UKGlobal’s healthcare arm offers medical insurance solutions to clients and UKGlobal Group Risk provides group risk cover and business protection insurance.
Under the terms of the agreement, UKGlobal will retain its management and team members along with the UKGlobal brand.
Aston Lark Group CEO Peter Blanc said: “I have known Nic, Matt, Phil and of course Philip Hodson 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.”
UKGlobal Group CEO Matthew Bray said: “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.”
The announcement comes shortly after Aston Lark was acquired by Howden and it marks the 50th acquisition for Aston Lark since its inception in 2018.
In March 2022, Aston Lark bought specialist corporate insurance broking firm Braddons for an undisclosed sum.