Aston Lark, the UK-based chartered insurance broker backed by Goldman Sachs, has purchased Deanspoint Insurance Brokers.
he acquisition of Deanspoint, which trades as Abbey Murphy Insurance, is Aston Lark’s seventh purchase so far this year in Ireland.
Established in 1983 and based in Longford and Mullingar, Abbey Murphy Insurance provides both personal insurance and commercial brokerage services.
The financial details of the deal have not been made public.
Mike Winters, managing director of Abbey Murphy Insurance, said: “The world of insurance is constantly evolving, and to this end, we had to decide on our next move forward so that we could continue to provide our clients with the highest quality service possible.”
“Various opportunities presented themselves, but none were quite right until we met with Robert Kennedy from Aston Lark.”
Mr Winters added that the firm is looking forward “to our clients and staff enjoying the benefits of being part of a much larger company.”
Abbey Murphy Insurance, which is led by the management team of Mr Winters, Celine Gill and Michael Gardiner, employs 17 people. The management will remain with the company following the deal.
Robert Kennedy, Aston Lark Ireland CEO, said: “There’s lots of synergy in the cultures of Abbey Murphy Insurance and Aston Lark Ireland.”
“They have built a fantastic business based on client-first principles, delivering a high level of customer service and focusing on building long-lasting relationships, which aligns with our values.”
Last month Aston Lark purchased brokers Brassington Insurance.
Brassington, a subsidiary of the ARB Group, is one of Ireland’s oldest insurance brokerages, having been founded by Arthur Rochelle-Brassington over 90 years ago.
The company provides travel insurance to individuals, through its online travel trading platform, as well as offering a range of insurance services to businesses.
In addition, its wholesale division specialises in providing professional indemnity solutions to insurance brokers.
Aston Lark currently employs 1,500 people across Ireland and the UK.
The company plans to make further acquisitions in Ireland this year.