Aon-owned NFP acquires Bspoke in major deal

Aon-owned NFP has acquired Bspoke Group to expand its UK specialist insurance services.

Bspoke was formed in 2022 through the merger of the Precision Partnership Limited and UK General Insurance Group.

It has since grown into a platform of multiclass niche and specialist MGAs and specialist insurance distributors.

Headquartered in Leeds, the firm also has offices in Shropshire, Gloucestershire, Essex, Liverpool and London.

NFP said the acquisition enhances its technical underwriting, product expertise and distribution.

“I’m excited to welcome the talented team at Bspoke to NFP,” said Matt Pawley, president at NFP Europe.

“With its industry experience, diverse range of specialist solutions and customer-centric approach, they’ve driven exceptional growth and client-retention.

“The Bspoke team will strengthen our existing suite of insurance solutions while expanding our technical underwriting expertise and specialist product knowledge.”

Operations post deal

NFP and Bspoke will operate independently, with the Bspoke management team reporting into Pawley.

All Bspoke businesses will continue to operate under their existing brands, which provide coverage across multiple sectors such as property, lifestyle, high net worth and transportation.

Tim Smyth, founder of Bspoke, said: “NFP offers Bspoke a fantastic opportunity to build on the platform we have developed over the past two years.

“With NFP’s support, we can drive strong organic growth, attract top talent and pursue further acquisition opportunities to sustain Bspoke as a leading niche and specialist player with a relentless focus on meeting dynamic client needs.”