Newcastle-based MGA acquired by SRG

Specialist Risk Group (SRG) has acquired Newcastle-based Generation Underwriting from WF Risk Group.

Generation Underwriting is a UK-based MGA that partners with brokers across the regions in the SME and mid-market space.

Its portfolio spans commercial combined, property owners, fleet and contractors all risks products.

As part of the deal, the firm will become part of MX, SRG’s underwriting pillar, and will further accelerate the build-out of a nationwide property, liability and fleet proposition for brokers.

Greg Wilde, managing director at Generation Underwriting, said: “Joining SRG’s MX pillar marks an exciting new chapter.

“Our philosophy has always centred on building local relationships, providing swift service and offering flexible wordings.

“With SRG’s investment and market reach, we can enhance these strengths for our broker partners while maintaining the same people, values and decision making agility that define our business.”

’Natural fit’

SRG said the acquisition complements MX’s existing appetite and will provide brokers across the UK with an expanded and more comprehensive range of property, fleet and liability propositions.

Lee Anderson, group deputy chief executive at SRG, said: “Generation Underwriting epitomises the kind of specialist underwriting talent we celebrate in MX.

“Wilde and his team bring complementary expertise in construction and property-owners’ and their values and focus on delivering for brokers across the UK make them a natural fit for MX as we continue to build a best-in-class property, fleet and liability proposition.

“We’re delighted to welcome them to SRG.”