Section one: Contracting authority
one.1) Name and addresses
U.M. Association Limited
Level 4, 5 St Helen’s Place
London
EC3A 6AB
Country
United Kingdom
Region code
UKI - London
Internet address(es)
Main address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
T1115 - UMAL Insurance Broker
Reference number
DN2816
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short 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
Please also note, although the estimated total value is £125M across a potential 5 year
contract we would like to make the following clear
The overall value includes both premium and broker fees and could be in the range of £60 -
£125m across 5 years
Furthermore, to give an idea of just broker fees, this could end up being around £5m to £15m
across 5 years
Please note all figures are purely estimates.
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £125,000,000
two.2) Description
two.2.2) Additional CPV code(s)
- 66510000 - Insurance services
- 66518000 - Insurance brokerage and agency services
- 66518100 - Insurance brokerage services
two.2.3) Place of performance
NUTS codes
- UKI - London
two.2.4) Description of the procurement
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
Please also note, although the estimated total value is £125M across a potential 5 year
contract we would like to make the following clear
The overall value includes both premium and broker fees and could be in the range of £60 -
£125m across 5 years
Furthermore, to give an idea of just broker fees, this could end up being around £5m to £15m
across 5 years
Please note all figures are purely estimates.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 80
Price - Weighting: 20
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Restricted procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2024/S 000-040248
Section five. Award of contract
Contract No
T1115
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
4 June 2025
five.2.2) Information about tenders
Number of tenders received: 2
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Lockton Companies LLP
St Botolph Building, 138 Houndsditch
London
EC3A 7AG
Country
United Kingdom
NUTS code
- UKI - London
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Lowest offer: £60,000,000 / Highest offer: £125,000,000 taken into consideration
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
The Strand
London
WC2A 2LL
Country
United Kingdom