AssuredPartners, an insurance broker in the United States, UK and Ireland, has acquired Leeds-based Romero Group, which includes Romero Insurance Brokers Limited, it’s subsidiary Sentient Group Limited and Club Insure Limited (Romero). The transaction is subject to customary regulatory approval.
Founded in 1997 by Justin Romero-Trigo, Romero has enjoyed exceptional growth and become one of the largest independent commercial insurance brokers in the UK, controlling over £100m of GWP and employing 205 staff across 5 regional offices.
All staff will stay in place post-acquisition under the leadership team of Group CEO, Justin Romero-Trigo, Group MD, Simon Mabb and Group COO, Victoria Romero-Trigo.
David Heathfield, CEO of AssuredPartners UK and Ireland, said: “It’s not just the scale of Romero that sets it apart from its independent peers but the way in which the business has been structured to ensure clients receive an unrivalled level of service from placement to claims advocacy.
“Our largest acquisition to date, the addition of Romero to our growing group is a key milestone in our expansion plans and the combination of these two powerful brands will create better solutions for our clients and provide great opportunities for all staff.”
Justin Romero-Trigo said: “AssuredPartners have met all our requirements in continuing our exceptional service to our clients. I am proud that after 26 years we have secured a like minded partner who will allow us to continue and reinforce our growth trajectory.
“I would like to pay testimony to my staff and management team who have given me 100% at all times, we have and continue to achieve greatness in every area we operate in. Our constant drive for change and growth is in built in our DNA and we needed a partner that we could continue to flourish our entrepreneurial spirit.
“I am pleased to say that in AssuredPartners we have found the perfect partner and with our strong leadership through Simon and myself we are in safe hands.”
Simon Mabb said: “I’m really pleased that we have been able to find the forever home for the Romero businesses. We were very clear that we had to join a business with the same cultural alignment for our staff and clients.
“I’d also like to thank all the team at Romero for their hard work over the years to make the businesses the huge success they are today. Lastly, I’d like to publicly thank Justin for his unwavering support to me personally over the last 15 years, I look forward to working with him and the AssuredPartners team to continue our journey.”