UK-based insurance broker Aston Lark has announced the acquisition of Phoenix Healthcare for an undisclosed sum.

Founded in 1996, Phoenix Healthcare is an independent UK broker and advisor specialising in offering corporate healthcare solutions.

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Aston Lark Group CEO Peter Blanc said: “We are becoming a real powerhouse in private medical insurance, and I am delighted to welcome Paul, Lee and their team to the Aston Lark family.”

Paul Wright Phoenix Healthcare founding director said: “Both Lee Shorter and I have over 35 years experience in the industry, and are delighted to choose Aston Lark as the long-term partner for our business. We firmly believe that they will be a great home for our staff and share our client-first approach to corporate healthcare broking.”

The announcement comes just a few days after Aston Lark announced the acquisition of Mainstay Insurance.

Mainstay Insurance offers tailored commercial insurance and risk management solution with a focus on the leisure industry, property owners, and professional indemnity.

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Mainstay Insurance MD and founder Richard Gorrill said: “We simply cannot afford to stand still in this rapidly evolving business world, and this acquisition brings additional opportunities not only for our clients but for our magnificent staff too.”

Aston Lark, which is currently backed by Goldman Sachs Asset Management, is soon to be acquired by Howden.

In October 2021, Howden brokered a deal to take over Aston Lark and form an entity with over £6bn of gross written premium (GWP).

The financial value of the deal was not revealed but media reports indicate that Howden paid $1.5bn for the acquisition.