Aston Lark Group, the Goldman Sachs-backed insurance broker soon to be acquired by Howden, has announced the acquisition of Innovation Broking, based in London and Watford.
Established in 2015, Innovation Broking is an independent corporate insurance broker and employee benefits adviser that was founded by Paul Dickson and Howard Pearson.
The company employs 30 staff and specialises in larger risks, global programs, and private equity-backed businesses, with particular expertise in the technology, health, film and TV, and charities and care sectors.
“I’ve known Paul Dickson for many years and his reputation in the market is outstanding, both as an expert Insurance Broker but also as a leader,” said Peter Blanc, Aston Lark Group CEO.
“He and Howard have built Innovation Broking into a renowned business in just six years, employing fantastic talent from top to bottom. I’m delighted to welcome the whole team into the Aston Lark fold and look forward to working with Paul and his colleagues as they continue to build a unique corporate proposition.”
Paul Dickson, Innovation Broking CEO, added: “I am delighted that Innovation Broking has agreed to be acquired by Aston Lark, which is now to become part of the Howden Group. This will provide an outstanding platform for the continued growth of our corporate broking business, and in turn provide great opportunities for our people.”
“Peter Blanc and I have known each other for many years, and I have enormous respect for his leadership of Aston Lark, which in common with Innovation, places people and their development at the forefront of its business. 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,” Dickson continued.
“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.”
Will Fraser-Allen, Managing Partner, Albion Capital Group LLP, also commented: “We identified a compelling investment case for Innovation Broking and its corporate broking model, focussed as it is on high-end Board level engagement with clients that had more complex insurance needs. I have known Paul for many years and Albion Capital is delighted to have backed Innovation from day one through to this hugely successful sale to Goldman Sachs-backed Aston Lark, which recognises the outstanding quality of Innovation and its team.”