Insurance coverage brokerage firm AssuredPartners has confirmed the acquisition of Romero Group, together with Romero Insurance coverage Brokers, Sentient Group and Membership Insure.
The businesses didn’t disclose the monetary particulars and different phrases of this transaction.
Romero Group, which was based by Justin Romero-Trigo in 1997, is a Leeds-based business insurance coverage dealer.
Controlling almost £100m ($124.5m) price of gross written premiums, the corporate operates throughout totally different sectors, with specialisation in building and manufacturing placements.
Romero additionally has experience within the leisure and sports activities membership companies through its Membership Insure model.
It at present has 205 workers deployed throughout 5 regional workplaces.
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The brand new transaction won’t require Romero’s employees to relocate. The employees will proceed to work in place beneath the supervision of Romero group CEO Justin Romero-Trigo, group managing director Simon Mabb and group chief working officer Victoria Romero-Trigo.
The completion of this deal is now topic to sure customary regulatory approval.
Romero’s acquisition is consistent with AssuredPartners’ enlargement plan.
Based in 2011, AssuredPartners is an impartial insurance coverage dealer within the US, UK, and Eire (UK&I), with round 9,000 workers.
To this point, the corporate has acquired as many as 450 companies, with workplaces positioned throughout 36 states within the US and 4 different nations.
AssuredPartners UK and Eire CEO David Heathfield stated: “Our largest acquisition up to now, the addition of Romero to our rising group is a key milestone in our enlargement plans and mixture of those two highly effective manufacturers will create higher options for our purchasers and supply nice alternatives for all employees.”
Justin Romero-Trigo stated: “AssuredPartners have met all our necessities in persevering with our distinctive service to our purchasers. I’m proud that after 26 years we have now secured a like-minded accomplice who will permit us to proceed and reinforce our development trajectory.”
In November 2022, AssuredPartners introduced the acquisition of Irish firm O’Callaghan Insurances (OCI).
