Company: Aston Lark, CRS Yachts
Business Type: Marine Insurance
UK & International Business Sales and M&A News
Aston Lark, the UK-based insurance broker, has acquired the superyacht specialist CRS Yachts.
The chartered insurance broker Aston Lark, backed by Goldman Sachs, has purchased rival Lloyd’s broker CRS Yachts, also based in London.
CRS Yachts is a bespoke insurance brokerage company focusing solely on servicing superyacht owners and their yachts. Aston Lark has announced that CRS Yachts will maintain its branding and play an active role in the growth strategy of Aston Lark Europe.
In 2018, Aston Scott Group joined with insurance broker Lark Group, and Aston Lark now has 1,000 staff in 35 regional offices across the UK.
Robert Kennedy, Aston Lark’s Europe CEO, commented:
“We are thrilled to bring CRS Yachts into the Aston Lark group under Robertson Low, albeit temporarily as we are set to rebrand Robertson Low and Wright Insurance Brokers as Aston Lark Europe in April 2021.
”CRS Yachts has built a really great business over the last few years with an exciting and dynamic team at its core.”
Robert Kennedy – Aston Lark’s Europe CEO
Simon Ballard, CRS Yachts CEO, believes the collaboration will be a strong one.
He commented:
“We are delighted to be joining the Aston Lark group.
“In an ever-changing world we believe the strengths of Aston Lark, together with their client focus approach, which matches ours, makes a great collaboration. Together we will be able to service our current and future clients to the highest level.
“We are all very much looking forward to the future, continuing to grow and offering the superior service levels our many clients have come to expect from us.”
Simon Ballard – CRS Yachts CEO
Aston Lark has made a number of acquisitions in recent years, Group CEO Peter Blanc said, most recently MS Amlin/Haven Knox-Johnston.
He said of the acquisition:
“It’s so exciting to have Simon Ballard and the team from CRS Yachts joining forces with Aston Lark Europe and working with our CEO Robert Kennedy. With Euromarine, Haven Knox-Johnston and now CRS Yachts we’re becoming quite the nautical experts. CRS Yachts specialises in the high-end world of superyachts and they place cover for some of the most beautiful craft on the planet.
“It’s an extremely specialised class of business which is facing its own hard market challenges. Simon and the team haven’t missed a beat through Covid and we’re looking forward to an exciting and challenging 2021 together.”
Peter Blanc - Aston Lark Group CEO
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