Global insurance broker and fintech leader, Acrisure has announced its acquisition of CRK Commercial Insurance Services Limited, the specialist commercial schemes provider.
The deal is expected to close at the start of October 2022.
Established in 2000, CRK is a highly successful broker within the manufacturing and engineering space, under the leadership of its managing director, Darren Wills.
Over the years, CRK has partnered with some of the largest insurers in the UK to establish exclusive insurance schemes with specialist covers and competitive rating structures, in order to provide unique risk solutions for trades, with a focus on the manufacturing, engineering, rope access and HVAC industries.
Once the acquisition has closed, Wills and his management team will continue to operate CRK under the CRK brand as part of Acrisure UK Retail.
The CRK team will benefit from Acrisure’s technology capabilities and global network of brokers and MGA’s.
Mark McIlquham, President of Acrisure UK Retail, said: “I look forward to welcoming CRK to Acrisure. We are excited to collaborate with CRK and Darren. CRK is a profoundly entrepreneurial and agile business with a fantastic client base. We were particularly attracted by the truly bespoke, unique schemes that the team have developed with their in-depth knowledge and understanding of specific trades and industries.”
Wills, commented: “Once I had met Mark and the Acrisure team, it was quickly apparent that the Acrisure model was perfect for me and CRK. Acrisure allows me to carry on running the business I am passionate about and have built up since 2000 as well as enables me to grow and diversify. I look forward to making CRK even more successful as part of Acrisure.”
Furthermore, Acrisure expects to make further announcements of new UK acquisitions and partnerships in the near term. The company has continued to expand globally in 2022, with operations now in 15 countries.
In late May, it was reported that the company had closed $725 million in Series B-2 Preferred Equity and received a $23 billion valuation, representing a 31% increase from its last preferred equity raise in March 2021.
Meanwhile, earlier in the year, Acrisure also entered into a partnership with cyber insurance and security provider, Coalition, to help small and mid-size organisations understand their cyber and digital risk exposure.
