Bury St Edmunds: Regional broker Insurance Risk Solutions to become part of Lark Group
PUBLISHED: 10:10 16 July 2014 | UPDATED: 15:17 16 July 2014
Regional insurance broker and risk management company Insurance Risk Solutions (IRS) is to become part of the Lark Group, which operates across London, the South East and East Anglia.
IRS, which is based in Bury St Edmunds and employs 25 people, traces its origins back to the 1970s and was one of the first Chartered Insurance Brokers.
Lark, established in 1948 as a Lloyd’s broker, provides insurance broking services to a broad cross-section of corporate and personal clients, generating more than £26million in annual revenues.
It already operates from seven offices, including its headquarters in Barking and a branch in Colchester, employing 325 staff.
IRS directors Robert Beckett, Paul Chubbuck, Bernie Aldous, Simon Wilding and Paul Wisbey and the rest of their team will be joining Lark following the deal and will continue to service their clients from their office in Bury St. Edmunds.
“We are delighted to add IRS to our existing operations. It is a top quality broking business and an ideal fit with our strategic objective to be one of the leading independent brokers,” said Graham Lark, chairman of Lark Group.
“It is very much business as usual. There is a strong cultural fit as they share our belief that there is considerable opportunity for insurance brokers who provide clients with highly professional advice and excellent service.
“This development will considerably strengthen our position in East Anglia, and will fit well with our existing office in Colchester.
“We’ll be working with the IRS team to continue their growth through a combination of organic new business efforts, and the addition of high quality people when these opportunities arise. Everyone at Lark is very much looking forward to working with them.”
Robert Beckett, chairman of IRS said he was delighted to have found “a perfect fit” for IRS. “Both firms share the same values of client service, professional standards and development of staff,” he added.