‘The addition of Romero to our growing group is a key milestone in our expansion plans,’ says UK and Ireland chief executive
Broker Assured Partners has made its “largest acquisition to date” with the purchase of Romero Group, a statement released today (13 November 2023) said.
Leeds-based Romero is a broking group that controls over £100m of gross written premium (GWP) and employs 205 staff across five regional offices.
It is made up of two subsidiaries – Romero Insurance Brokers Limited, which specialises in construction and manufacturing placements, as well as Club Insure, which operates in the leisure and sports club sector.
Both firms will join Assured Partners as part of the deal.
David Heathfield, chief executive of Assured Partners UK and Ireland, said: “It’s not just the scale of Romero that sets it apart from its independent peers, but the way in which the business has been structured to ensure clients receive an unrivalled level of service from placement to claims advocacy.
“Our largest acquisition to date, the addition of Romero to our growing group is a key milestone in our expansion plans and the combination of these two powerful brands will create better solutions for our clients and provide great opportunities for all staff.”
Post acquisition
All staff across Romero Group will stay in place post acquisition under the leadership team of group chief executive Justin Romero-Trigo, managing director Simon Mabb and chief operating officer Victoria Romero-Trigo.
Read: Jensten expands regional presence with broker buy
Read: Insurance M&A activity across Europe sees sharp drop in H1 2023 – Clyde and Co
Explore more M&A-related content here or discover other news stories here
Romero-Trigo said joining Assured Partners would allow his firm “to continue and reinforce our growth trajectory”.
“I would like to pay testimony to my staff and management team who have given me 100% at all times, we have and continue to achieve greatness in every area we operate in,” he added.
“Our constant drive for change and growth is in built in our DNA and we needed a partner that we could continue to flourish our entrepreneurial spirit.
“I am pleased to say that in Assured Partners we have found the perfect partner and with our strong leadership through Simon and myself we are in safe hands”.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet