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AssuredPartners buys UK brokerage

AssuredPartners Inc. said Tuesday it has bought Leeds, England-based brokerage Romero Insurance Brokers Ltd.

Terms were not disclosed. The deal is AssuredPartners’ largest in the United Kingdom, an AssuredPartners statement said.

Romero, founded in 1997 by Justin Romero-Trigo, places about £100 million ($124 million) in annual premium and has 205 staff in five offices, the statement said.

The brokerage’s specialties include construction, manufacturing, and sports and leisure.

Mr. Romero-Trigo and the staff will remain with the company, the statement said.

AssuredPartners is the 11th largest broker of U.S. business, according to Business Insurance’s most recent ranking. About 98% of its business is derived from U.S. businesses.