The fast-growing global insurance broker Acrisure has kicked off 2023 by announcing its 11th partnership in the UK market. The group has announced its investment in Glasgow-based Affinity Brokers Limited (Affinity) – a deal expected to close shortly, pending FCA regulatory approvals.
Founded in 2010 by Scott Meechan and Yvonne McKnight, Affinity serves the market as a retail insurance broker and has developed a specialism in jewelry and jewelers’ block. In a Press release, Acrisure noted that the business is broadly divided into two offerings: a commercial and corporate broker, and a tech-enabled affinity offering for point-of-sale and embedded insurance products across a range of sectors.
Under the terms of the deal, Affinity will continue to utilize its brand and existing management team, led by Meechan and McKnight.
Commenting on the deal, Mark McIlquham, president of Acrisure UK Retail said: “Affinity provides Acrisure with a commercial broking operation in Scotland to drive organic and inorganic growth using a unique, technology-based digital affinity capacity. Scott and Yvonne have built a brilliant business and we’re thrilled to welcome them to the Acrisure team early in the New Year.”
Meanwhile, Meechan highlighted that Acrisure was the “perfect fit” for Affinity. The partnership offers significant benefits, he said, which will enhance Affinity’s proposition for its team, existing clients, and new clients. The deal will also enable the firm to extend its technology-enabled offering to a global audience.
McKnight added: “We are delighted to be joining Acrisure, a company whose values and ambition so closely align with the Affinity ethos. We are excited about the future of our partnership, and the opportunities it presents for everyone involved.”