Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of specialist Irish liability and property managing general agent (MGA), Blackrock Insurance Solutions.
Financial details of the acquisition were not disclosed.
SRG said this acquisition further demonstrates its commitment to the Irish broker market, as it invests in specialist underwriting capability and technical expertise, to support existing wholesale broker TUE and motor specialist MGA, LIME.
SRG has been building its MGA capability, following the acquisition of GB Underwriting and CLS Risk Solutions (subject to regulatory approval) earlier this year. Blackrock will now join GB Underwriting, LIME and CLS RS, to form the foundations of the group’s underwriting business.
Warren Downey, group CEO at SRG, said: “We are thrilled to further support our Irish broker partners through the acquisition of Blackrock Insurance Solutions. The Blackrock team is a group of genuine specialists who add tremendous value and expertise to the group’s underwriting capability.”
“We remain committed to supporting Irish brokers with their specialist risks and our acquisition of Blackrock solidifies this commitment,” commented Lee Anderson, CEO of Specialist Risk Underwriting Solutions.
Neil McSherry, managing director of Dublin-based Blackrock, said: “I believe SRG are an exciting home for our business, as we look to our next stage of growth. We are very much looking forward to joining forces with Warren, Lee, and the team to continue to service our brokers within the Irish Market.”
About Specialist Risk Group
Specialist Risk Group (SRG) is a group of insurance intermediaries that arrange specialist insurance for more than 45,000 end corporate and individual policyholders operating in the UK and internationally. SRG is owned by its management team and HGGC, a middle-market private equity firm based in Palo Alto, Calif.
Source: Specialist Risk Group (SRG)
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