The acquisition will allow the independent broker to continue growing its corporate broking business
Aston Lark Group has bought independent commercial insurance broker and employee benefits advisor Innovation Broking.
Founded in 2015 by Paul Dickson and Howard Pearson, Innovation Broking is based in London and Watford. It has 30 staff and specialises in larger risks, global programmes and private equity backed businesses.
It also has expertise in the technology, health, film and TV, and charities and care sectors.
Peter Blanc, Aston Lark Group chief executive, said: “I’ve known 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 Pearson have built Innovation Broking into a renowned business in just six years, employing fantastic talent from top to bottom.
”I’m delighted to welcome the whole team into the Aston Lark fold and look forward to working with Dickson and his colleagues as they continue to build a unique corporate proposition.”
Speaking about the acquisition, Paul Dickson, Innovation Broking’s chief executive, said: “This will provide an outstanding platform for the continued growth of our corporate broking business and, in turn, provide great opportunities for our people.
“I have enormous respect for [Blanc’s] leadership of Aston Lark, which in common with Innovation, places people and their development at the forefront of its business.
”Innovation has grown into a great business in the last five years and this is thanks in part to our backing from Albion Capital, [which has] 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 charity and care sectors.
“I am also very pleased to be asked by Blanc to chair Aston Lark’s broking and benefits companies from early 2022.”
Will Fraser-Allen, managing partner, at Albion Capital Group, added: “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.
“I have known Dickson for many years and Albion Capital is delighted to have backed Innovation from day one through to this hugely successful sale to Aston Lark, which recognises the outstanding quality of Innovation and its team.”