Acrisure snaps up Affinity Brokers in Scotland

Founded in 2010 by Scott Meechan and Yvonne McKnight, the broker has specialisms in jewellery and jewellers block.

The business is divided into two offerings: a commercial and corporate broker; and a technology-enabled affinity offering for point-of-sale and embedded insurance products across a variety of sectors.

The broker will continue to operate under its brand and existing management team, led by Meechan and McKnight.

Scotland

President of Acrisure UK retail, Mark McIlquham, pictured, commented: “Affinity provides Acrisure with a commercial broking operation in Scotland to drive organic and inorganic growth using a unique, technology-based digital affinity capability.

“Scott and Yvonne have built a brilliant business, and we’re thrilled to welcome them to the Acrisure team early in the new year.”

Meechan added that the partnership will allow Affinity to extend its technology-enabled offering to a global audience.

He continued: “Acrisure is the perfect fit for Affinity. The partnership offers significant benefits that will enhance our proposition for our team, existing clients and new clients.”

McKnight concluded: “We are absolutely delighted to be joining Acrisure; a company that’s 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.”

The transaction is expected to close in the near term, pending regulatory approvals.

Acquisitive broking group

Prior to Affinity, the US broker acquired Sutton Winson and Sutton Specialist Risks in October 2022.

The month before, Acrisure continued its UK expansion with CRK Commercial Insurance Services. The consolidator had entered the UK with purchases of managing general agents, and followed this with the acquisition of Russell Scanlan in June.

Also in June, McIlquham revealed that it was set to target SME brokers in the UK and Ireland as part of its M&A strategy having set out a five-year £1bn gross written premium target last January.

In May US-headquartered Acrisure was valued at $23bn (£18.62bn) as the business confirmed it had completed a $725m Series B raise.

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