Chartered insurance broker Aston Lark has announced the acquisition of Risk Alliance Limited and Risk Alliance International, two broking subsidiaries of Risk Alliance Group.
Risk Alliance Limited is a specialist Schemes broker based in Bingley, West Yorkshire, and were acquired by Accelerant in September 2019.
The deal sees a total of 14 staff move across to Aston Lark in Bingley and a further nine members of staff in Belfast, with a combined GWP of £12 million across the two businesses.
“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,” said Chris Lee-Smith, Head of Distribution at Accelerant.
“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.”
Peter Blanc, Group CEO of Aston Lark added “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.”