Aston Lark buys East Anglia-based MGA

Aston Lark has made yet another acquisition, this time acquiring inet3 Limited, which trades under the name Magenta Insurance.

This news follows Aston Lark announcing yesterday that it had acquired Scottish broker Bruce Stevenson Insurance Brokers. 

Magenta Insurance is a chartered MGA based in East Anglia. It provides specialist insurance solutions for non-standard residential property to brokers and independent financial advisors (IFAs) across the UK.

The MGA was founded more than 27 years ago, with its underwriting capacity supplied by Lloyd’s of London and composite markets.

Peter Blanc, Aston Lark’s group chief executive, said: “We’ve been actively searching for high quality MGAs to bring into the Aston Lark Group.

”Magenta have recently achieved chartered status, which is testament to their focus on quality and service – both of which are at the heart of Aston Lark’s ethos.

“Catherine Bell, David Reid and their team have been highly innovative in the property insurance arena, creating solutions for the huge industry challenges posed by escape of water claims and we can’t wait to see how we can help them extend their offerings to the market.”

Shared vision

Meanwhile, Catherine Bell, chairman of Magenta Insurance, said she was delighted to be joining the Aston Lark Group.

Bell continued: “With their client focus, chartered status and professionalism, this is a perfect alignment for our team. We are excited about future opportunities as part of such a prestigious organisation.

“Our commitment and focus is to continue to offer our brokers and IFAs an excellent underwriting service as we work towards building on and improving our offering as part of Aston Lark.

”We share a vision for improving client outcomes by finding new and innovative ways to mitigate risk and also finding impactful solutions for all stakeholders to protect and insure residential properties.”