Aston Lark Group, the London-based insurance broker backed by Goldman Sachs that is soon to become part of Howden, announced it has acquired Innovation Broking.
Financial details of the deal were not disclosed.
Established in 2015, Innovation Broking is an independent corporate insurance broker and employee benefits adviser. Founded by Paul Dickson and Howard Pearson, and based in London and Watford, the company employs 30 staff and specializes in larger risks, global programs, and private equity-backed businesses. Innovation has 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. He and Howard have built Innovation Broking into a renowned business in just six years, employing fantastic talent from top to bottom,” commented Peter Blanc, Aston Lark Group CEO. “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.”
“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. 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,” said Paul Dickson, Innovation Broking CEO.
Dickson said that Blanc has asked him to chair Aston Lark’s broking and benefits companies from early 2022.
“We identified a compelling investment case for Innovation Broking and its corporate broking model, focused as it is on high-end board level engagement with clients that had more complex insurance needs,” said Will Fraser-Allen, managing partner, Albion Capital Group LLP, the London-based investment manager.
About Aston Lark
Currently backed by Goldman Sachs but soon to be acquired by Howden (as announced on Oct. 13, 2021), Aston Lark has more than 1,600 employees across 55-plus offices in the UK and Ireland, with 200,000 customers and more than £900 million of GWP.
Source: Aston Lark
Topics Mergers & Acquisitions InsurTech
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