Specialist Risk Group (SRG), a UK insurance intermediary, has announced the acquisition of Strategic Insurance Services Limited (SISL), a broker known for its specialist schemes.
The transaction, whose financial details were not disclosed, aligns with SRG’s strategy to broaden its specialisms within the group.
SISL, established in 1997 and operating from West Sussex, UK, has developed specialisation with ties to insurers, brokers and financial service clients across Europe.
The acquisition marks SRG’s first since revealing its new investment partners, Warburg Pincus and Temasek, in May 2024.
Although financial details remain undisclosed, estimates from Bloomberg suggest the value of SRG, including debt, surpasses £1bn ($1.27bn) following the Warburg Pincus and Temasek deal.
The deal is anticipated to propel SRG’s growth into new markets, particularly within Europe and Asia.
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By GlobalDataBoth deals are subject to regulatory approval.
SRG Group CEO Warren Downey said: “We are excited to welcome SISL to SRG. The SISL team has profound expertise in creating and delivering specialist schemes, which aligns perfectly with our strategic vision.
“This acquisition not only enables us to support SISL in developing their current proposition but also expand their capability further across international markets. The cultural fit between our two organisations is exceptional, and we see significant opportunities for our people to grow and thrive together.”
SISL director Christian Freer said: “We have known Warren and the SRG team for some time and are thrilled to now be joining SRG.
“This partnership opens up tremendous opportunities for our team, allowing us to leverage SRG’s resources and expertise to drive the growth of our business. Together, we are well-positioned to further support clients across the globe with our specialist insurance products and solutions.”
In December 2023, SRG signed an agreement to acquire CBC, an insurance broker that is part of Paladin Holdings.
