Momentum AR Buys Devon Broker
Renata Group has acquired Devon-based Abbot Insurance Consultants, marking the first acquisition for the Bournemouth broker since its launch in late 2025. The deal is part of a broader strategy to expand the company’s presence across the UK insurance market.
First acquisition since launch
Gary Boome founded Renata Group in November 2025, operating as an appointed representative of Momentum Broker Solutions. The company offers both commercial and personal lines insurance products. The purchase of Abbot Insurance Consultants represents a notable step for the young brokerage as it works to establish itself in a competitive market.
Abbot Insurance Consultants had been serving clients in Devon prior to the acquisition. Details of the transaction have not been made public.
Expanding market reach
Renata said the acquisition strengthens its position within the UK insurance sector. The company pointed to an enhanced ability to deliver tailored insurance solutions and advisory services to a broader client base as a key benefit of the deal.
Boome has previously discussed the challenges of launching his first business, noting the difficulties of building a brokerage from the ground up in a market where established players hold significant share. The acquisition of Abbot Insurance gives Renata immediate scale in a specific geographic area rather than having to build that presence organically.
Insurance brokers operating as appointed representatives typically work under the regulatory umbrella of a larger network, in this case Momentum Broker Solutions. This structure allows smaller brokers to access products and underwriting capacity they might not secure independently.
The UK broker market has seen ongoing consolidation in recent years, with larger intermediaries acquiring regional specialists to broaden their service offerings and client portfolios. Renata’s purchase of Abbot Insurance fits within that broader trend, though the company’s small size makes it a minor player compared to national chains.
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No timeline has been given for integrating Abbot Insurance’s operations into Renata’s existing structure. The company has not indicated plans for additional acquisitions at this stage.
Renata’s long‑term strategy to grow its UK footprint relies on leveraging the local expertise that firms like Abbot have cultivated over years of serving regional businesses and individuals. By incorporating Abbot’s existing relationships, Renata can accelerate the rollout of its commercial and personal lines products without the lead‑time normally required to establish trust in a new market.
Operating under Momentum Broker Solutions also means Renata benefits from a compliance framework that satisfies the Prudential Regulation Authority and the Financial Conduct Authority, while still maintaining the flexibility to tailor policies to the nuances of local risk profiles. This dual advantage—regulatory backing combined with bespoke advisory capacity—positions Renata to compete more effectively against entrenched national brokers.
Boome’s earlier comments highlighted the importance of having a solid distribution network when starting out. The acquisition addresses that need by adding Abbot’s established distribution channels, which include relationships with local agents, affinity groups, and small‑to‑medium enterprises that previously relied on Abbot for risk assessment and policy placement.
In addition to expanding geographic coverage, the deal brings in Abbot’s staff who possess on‑the‑ground knowledge of Devon’s specific industry sectors, such as tourism, agriculture, and coastal property. This expertise enables Renata to fine‑tune its underwriting approach, ensuring that policy terms reflect the actual exposures faced by clients in those sectors.
The consolidation pattern across the UK brokerage setting demonstrates that regional specialists are increasingly attractive targets for growth‑focused firms. By acquiring a specialist with an established client base, Renata sidesteps the lengthy process of organic client acquisition, instead inheriting a ready‑made portfolio that can be cross‑sold with its broader suite of insurance solutions.
While Renata has not announced any further deals, the successful completion of this first acquisition signals that the firm may view similar opportunities as part of its roadmap to become a more recognizable national player. The absence of a public integration schedule suggests that Renata intends to manage the transition carefully, preserving client service levels while aligning operational processes with its existing platform.
