--- title: "T1115 - UMAL Insurance Broker" ocid: "ocds-h6vhtk-04c7e0" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04c7e0" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-04c7e0.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-04c7e0.json" source: "Find A Tender Service" current_stage: "Award" buyer: "U.M. ASSOCIATION LIMITED" published: "2025-06-05" --- # T1115 - UMAL Insurance Broker Buyer: U.M. ASSOCIATION LIMITED Current stage: Award OCID: ocds-h6vhtk-04c7e0 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04c7e0) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-04c7e0.json) ## Summary U.M. Association Limited (UMAL), located in London, seeks to procure the services of an experienced UK-based insurance broker to act as an intermediary between UMAL and the insurance market, including insurers and reinsurers. This tender falls under the category of Financial and Insurance Services, classified by CPV code 66000000, aiming to cover various risks such as office insurance and cyber risks. The contract, valued between £60 million and £125 million over five years, involves a major procurement stage in its award phase as of 5th June 2025, with Lockton Companies LLP being the selected supplier. This procurement follows a selective, or restricted, procedure covered by the GPA. This tender offers substantial business growth opportunities for firms specialising in insurance brokerage services, particularly those with a comprehensive understanding of both local and international insurance markets. A contract of this scale and across multiple risk categories offers potential for long-term income through broker fees estimated between £5 million and £15 million over the contract period. Businesses with robust operational capacity and experience in financial services would be well-suited to compete, enhancing their portfolio by servicing a high-profile entity like UMAL. The industry's competitive nature, with quality and price as the award criteria, encourages firms to demonstrate excellence in service delivery and cost-efficiency. ## Notice 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 PS125M 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 PS60 - PS125m across 5 years Furthermore, to give an idea of just broker fees, this could end up being around PS5m to PS15m across 5 years Please note all figures are purely estimates. ### Lot Information Lot 1 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 PS125M 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 PS60 - PS125m across 5 years Furthermore, to give an idea of just broker fees, this could end up being around PS5m to PS15m across 5 years Please note all figures are purely estimates. Renewal: Contract would be on a 3 year initial basis with the option to extend for 12 months and then a further 12 months ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/030203-2025 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Selective | | Procurement method details | Restricted procedure | | Tender suitability | Not specified | | Awardee scale | Large | | All stages | Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 5 Jun 2025 | | Submission deadline | 20 Jan 2025 | | Future notice date | Not specified | | Award date | 3 Jun 2025 | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £125,000,000 | | Lots value | £125,000,000 | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Cancelled | | Awards status | Active | | Contracts status | Active | ## Buyer | Field | Value | | --- | --- | | Main buyer | U.M. ASSOCIATION LIMITED | | Locality | LONDON | | Post town | Central London | | Postcode | EC3A 6AB | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | City of London | | Electoral ward | Lime Street | | Westminster constituency | Cities of London and Westminster | | Delivery location | TLI London | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | LOCKTON COMPANIES | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services - 66510000 - Insurance services - 66518000 - Insurance brokerage and agency services - 66518100 - Insurance brokerage services ## Release History - 5 Jun 2025 at 11:24 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/030203-2025 - 13 Dec 2024 at 12:49 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/040248-2024 ## Notice URLs - https://supplierlive.proactisp2p.com/Account/Login - https://umal.co.uk/ ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04c7e0. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-04c7e0.json.