Acrisure snaps up UK-based broker in global expansion move
Global insurance broker Acrisure has acquired a UK-based broker in the manufacturing and engineering space as part of its continued global expansion in 2022.
The acquisition of CRK Commercial Insurance Services, a specialist commercial schemes provider led by its managing director Darren Wills, is expected to close in early October.
Established in 2000, CRK partners with UK-based insurers on exclusive insurance schemes with specialist covers and competitive rating structures to provide unique risk solutions for trades, with a focus on the manufacturing, engineering, rope access and HVAC industries.
Following the deal, Wills and his management team will continue to operate 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.
Acrisure stated that it expects to make new UK acquisitions and partnerships in the near term. The company now has operations in 15 countries. Acrisure recently 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. In the last nine years, Acrisure has completed or has under signed letter of intent more than 800 Partnerships globally, including nine in the UK.
Mark McIlquham, president of Acrisure UK retail, said: “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.”
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