Aston Lark acquires Risk Alliance Group brokers

Goldman Sachs-backed UK insurance broker Aston Lark has acquired Risk Alliance Limited and Risk Alliance International, two brokers owned by Risk Alliance Group, a subsidiary of Accelerant Holdings.

Risk Alliance is a specialist schemes broker based in Bingley, West Yorkshire, with specialisms in photographers, the leisure sector and non-standard household. Risk Alliance International is a Belfast-based broker with a particular focus on the haulage and logistics industries.

Both brokers were previously part of the Risk Alliance Group, which includes NBS, and were acquired by Accelerant in September 2019. Accelerant is an insurance company focused on supporting a carefully selected network of member MGAs across the UK, EU and the US.

The deal will see a total of 14 staff move across to Aston Lark in Bingley and a further 9 members of staff in Belfast, with a combined GWP of £12 million across the two businesses.

Peter Blanc, group CEO of Aston Lark, said: “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.”

Chris Lee-Smith, head of distribution at Accelerant, said: “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. 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.”