New shareholder to invest in growth areas next year

Schemes specialist managing general agent Aro Underwriting Group has sold 40% of its shares to Guernsey-based Heritage Group.

Aro managing director James Bright said: “We have proved, over the past 12 months in particular, that our approach to schemes works well in the UK regional market.

“With Heritage on board, and support from ‘A rated’ capacity across 10 products, we are set to grow the business into some very exciting new areas in 2015.”

Heritage Group chief executive Richard Tee said: “Heritage has an ongoing strategy of seeking and investing in specialist businesses that combine well with the expertise within the group.

“We have been really impressed by James and the Aro Underwriting team and we’re looking forward to the opportunities this investment will bring.”