British insurance broker Aston Lark has acquired the client book of health insurance and employee benefits insurer Choice Benefits.
The financial value of the deal was not disclosed.
Founded in 2015, Choice Benefits specialises in private medical insurance and caters to both individuals and businesses.
Its other offerings include group life insurance, critical illness cover, income protection among others.
Aston Lark Group CEO Peter Blanc said: “We’re delighted to welcome the clients of Choice Benefits into Aston Lark. We have seen tremendous growth in our Employee Benefits business in 2021, both through acquisition and organic growth, on the back of increasing volumes of cross-sales across the group. This ability to ‘join the dots and offer a full range of solutions to our personal and business customers is a key strength of our group.”
Terry Shelbourne, Founder of Choice Benefits, added: “We’re proud of our client-centric approach and the excellent level of service we provide to each of our clients. Aston Lark is a great organisation and I’m delighted that my clients will be serviced by a company that puts the same high emphasis on the customer. From our clients’ perspective, I’m excited for the potential to benefit from the great range of products and propositions that Aston Lark has access to.”
Goldman Sachs-backed Aston Lark is soon to be acquired by Howden, which is also a UK-based insurer.
The financial value of the deal was not revealed, however; as per media reports, the deal is valued at around $1.5bn.