Independent insurance broker Aston Lark has acquired Michael James Insurance & Property Services, a specialist commercial broker in the UK, for an undisclosed price.
Based in Maidstone, Kent, Michael James Insurance caters to the needs of more than 1,000 clients ever since it was established in 1984.
The commercial broker has a gross written premium of around £2.5m and has a strong focus on the Care and Real Estate sectors.
The company is headed by Ian Andrew and Michael Allbutt who will stay with the business initially to enable a smooth transition for both staff and clients.
Aston Lark group CEO Peter Blanc said: “Ian and Michael have worked hard over the years to create a strong business with high quality independent client service at its heart – we look forward to building on this and we are confident the team will fit in really well to their new home.
“Their specialist knowledge of the Care sector was a particular attraction for us and we will be looking to build on this and expand our involvement in this sector going forward”.
Michael James Insurance will merge with Aston Lark’s existing Maidstone office in the near future.
Michael James Insurance partner Ian Andrew said: “It was clear to us from our initial discussions with Peter that Aston Lark will be a great home for our clients and staff, and this was really important for us.
“Selling a business you have put heart and soul into for over 30 years is a big step, but we have been really impressed with the professional manner in which Aston Lark has handled the whole process and have every confidence that the future is bright.”
The transaction with Michael James Insurance marks the second acquisition of Aston Lark in 2018. It is the first acquisition of the new insurance broking brand Aston Lark which has been created from the merger of two British insurance brokers Aston Scott Group and Lark Group.