Goldman Sachs-backed Aston Lark makes fourth Irish acquisition

British chartered insurance broker says more deal announcements are imminent

Aston Lark, which is one of the largest insurance brokers in Britain, was founded in 2018

Aston Lark, which is one of the largest insurance brokers in Britain, was founded in 2018

 

Aston Lark, a British chartered insurance broker backed by Goldman Sachs, has made its second Irish acquisition in less than a month.

The company has bought Swords-based O’Loughlin Insurance Group for an undisclosed sum, just weeks after it closed a deal for North County Brokers. It is also the owner of Roberson Low and Wright Insurance Brokers, both of which i which were acquired in 2019.

Founded in 1984 by the late David O’Loughlin, O’Loughlin Insurance Group is now led by his son Paul O’Loughlin.

Aston Lark, which is one of the largest insurance brokers in Britain, was founded in 2018 following the merger of Aston Scott and Lark.

The group reported revenues of £71.6 million in 2019, the year in which Goldman Sachs acquired a majority stake in the group from Bowmark Capital for an estimated £320 million.

“With further deal announcements imminent, we are on track to realise our ambition of becoming Ireland’s leading independent insurance broker,” said Robert Kennedy, Aston Lark Ireland chief executive.