UK-based insurance broker Aston Lark has acquired Isca Barum Insurance Brokers, an independent insurance broker based in Exeter.
The purchase marks Aston Lark’s debut deal in 2020. Financial details about the acquisition were not revealed.
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Isca Barum focuses on smallholding and farm insurance and has more than £5m in GWP.
It serves corporate and private clients in the UK through Exeter and Barnstaple offices. The firm’s staff headcount is over 20.
Elaborating the rationale for the deal, Isca Barum managing director Bruce Archibold said: “We have been talking to Aston Lark for some time and over that period built up an increasing affinity with the way they work and with their people, who are all nicely grounded.
“We are looking forward to building on that from within the Aston Lark Group.”
Aston Lark group CEO Peter Blanc welcomed the deal, saying that the acquired entity’s views related to client service mirrors its own.
“We are delighted to welcome Bruce, Sarah, Andy, Simon and the whole team to the Aston Lark family,” he said.
In September 2019, Goldman Sachs picked a majority stake in Aston Lark from Bowmark Capital.
The insurance broker has recently been on an acquisition spree. Last year, it purchased Jobson James as well as Wright Insurance Brokers.
