Business Moves: Specialist Risk Group Acquires Ecclesia’s Dutch and Belgian Operations; Optio Completes Purchase of UK MGA Custodian Management

Specialist Risk Group Acquires Ecclesia’s Dutch and Belgian Operations

Specialist Risk Group (SRG), the London-based global insurance intermediary, announced it has completed the acquisition of German broker Ecclesia’s businesses in the Netherlands and Belgium.

Originally announced in January 2025, this transaction marks SRG’s formal entry into mainland Europe and represents a significant milestone in its international expansion. Financial details of the deal were not disclosed.

SRG said the acquired businesses, BS&F, Concordia, Ecclesia BV, Finance & Insurance, IC Verzekeringen NV – CI Assurances SA, Sibbing, and XOLV are established leaders in their respective markets, and will form a strong foundation for SRG’s European growth.

The Dutch and Belgian teams bring with them exceptional technical expertise, strong client relationships, and a cultural alignment that supports SRG’s vision to be the natural home for specialist insurance talent across Europe, the company said.

In addition to the acquisition, Ecclesia has now formally joined SRG’s investor group, alongside existing shareholders Warburg Pincus, Temasek, and SRG’s management team. This strategic alignment reflects a shared ambition to build a leading, international specialist insurance intermediary.

“We are delighted to complete this important transaction and officially welcome our new colleagues in the Netherlands and Belgium to SRG,” commented Warren Downey, group CEO at Specialist Risk Group, in a statement.

“Their depth of expertise, local market knowledge and service-led approach will be instrumental as we continue to expand our European footprint. We’re excited about the future and the opportunity to grow together as one team,” Downey said.

“We are proud to see this transaction complete, with our Dutch and Belgian teams formally becoming part of SRG. As Ecclesia now holds an investor position in SRG, we are pleased to retain our interest in these businesses and their future success,” according to Jochen Körner, CEO of Ecclesia and non-executive director at SRG.

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Optio Group Purchases UK-Based MGA Custodian Management Ltd.

Optio Group, a London-based independent specialty MGA platform, announced the completion of its acquisition of UK-based MGA Custodian Management Ltd., first announced in May, after receiving all necessary regulatory approvals.

Financial details of the transaction were not disclosed.

The transaction further enhances Optio’s existing PI proposition and is a significant step in its ambition to create a diversified platform.

Founded in 2013 by managing director Zahid Naqvi, Custodian Management Ltd. has grown to become a respected and successful professional indemnity (PI) and management liability specialist.

The acquisition follows previous purchases of Netherlands and-Brussels based MGA Den Hartigh, Luxembourg-based Circles Group and Norwegian-based S Insurance, and a strategic investment in Italian MGA, Heca S.r.l.

Topics Mergers & Acquisitions Insurance Wholesale