Published date: 5 June 2025

Last edited date: 5 June 2025

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 20 January 2025, 12pm

Contract summary

Industry

  • Financial and insurance services - 66000000

Location of contract

United Kingdom, Isle of Man, Channel Islands, British Oversea Territories, Europe, Rest of the World

Value of contract

£60,000,000 to £125,000,000

Procurement reference

44deeac3-4bb2-44ba-bdc5-b0ab48df450b

Published date

5 June 2025

Closing date

20 January 2025

Closing time

12pm

Contract start date

1 August 2025

Contract end date

31 July 2030

Contract type

Service contract

Procedure type

Restricted procedure (above threshold)

A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

UMAL needs to secure the services of a UK-based insurance broker with experience, expertise and capacity to act as an intermediary between UMAL and the insurance market (i.e. insurers, reinsurers, and other risk financing institutions). The broker will be required to assist with insurance needs of UMAL which include:

a. Placing Insurance risks with insurers (both local and international)
b. Ensuring adequate insurance for all UMAL exposures
c. Providing wholesale insurance broking services for HMSL on behalf of its Members
d. Covering the entity risks of UMAL, which includes

i. Office Insurance and related covers
ii. Professional Indemnity
iii. Directors and Officers for UMAL Directors and officers
iv. Crime
v. Cyber

More information

Previous notice about this procurement

T1115 - UMAL Insurance Broker

  • Opportunity
  • Published 13 December 2024

Links

Award information

Awarded date

5 June 2025

Contract start date

1 August 2025

Contract end date

31 July 2030

Total value of contract

£125,000,000

This contract was awarded to 1 supplier.

Lockton LLP

Address

138 The St Botolph Building, Houndsditch, London, UK, EC3A 7AG, UNITED KINGDOM

Reference

None

About the buyer

Address

U.M. Association Limited
Level 4, 5 St Helen's Place
London
EC3A 6AB
England

Email

enquiries@umal.co.uk

Website

https://umal.co.uk/