Aston Lark, a Howden company, announced the acquisition of the commercial direct marine trade book from Navigators & General (N&G), part of Zurich UK, to expand its range of insurance products for the marine community.
The acquisition of the commercial direct marine trade book from N&G will allow Aston Lark, together with its Haven Knox-Johnston brand, to offer insurance to businesses of all shapes and sizes, active across the entire spectrum of the marine industry. From marinas and boatyards to chandleries and boat repairers, Aston Lark will be able to provide a full range of insurance solutions to the marine industry.
Financial details of the deal were not disclosed.
N&G’s commercial marine products and underwriting capacity remain unchanged. N&G will continue to offer commercial marine products to customers through insurance brokers, alongside its specialist cover for pleasure craft.
Experienced marine trades underwriter Mike Jeffrey is joining Aston Lark directly from N&G where he was responsible for the insurer’s commercial direct business.
“We’re really excited to welcome Mike to Aston Lark. As an experienced marine trades underwriter, he will continue to look after his clients as he has done for many years and help us widen the range of insurance products and solutions for businesses that service the marine industry. This acquisition reinforces our strong business relationship with Navigators & General,” commented Steve Hook, head of Marine for Aston Lark, in a statement.
Graham Clark, head of Navigators & General, said: “We believe the needs of commercial customers are best served by brokers. Today’s announcement gives our customers access to the benefits of a specialist insurance broker, whilst retaining the marine underwriting expertise of Navigators & General. We look forward to continuing to develop our strong relationship with Aston Lark as we further grow our business.”
London-based Aston Lark, a Howden subsidiary, said it has expertise that spans all commercial sectors, industry-specific schemes, employee benefits consultancy, and private client solutions. The company employs 2,000 people across more than 75 offices in the UK and Ireland, handling more than £1.2 billion of GWP.
Source: Aston Lark
Mergers & Acquisitions
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