As part of the acquisition, a global re-insurer will provide SRG with ongoing capacity for particular risk exposures
Specialist Risk Group (SRG) has agreed the acquisition of Insolvency Risks Service (IRS), a division of MS Amlin, subject to regulatory approval.
IRS is a player within the UK insolvency market and this move signals its return to the insurance broking world after several years as a division of MS Amlin.
As part of the acquisition, MS Amlin will provide SRG with ongoing capacity for particular risk exposures.
This forms one of three upcoming strategic partnerships.
Warren Downey, chief executive at SRG, said: “We are delighted to welcome IRS to the Specialist Risk Group. As a specialist broker known for doing difficult things well, we have been keen to enter the insolvency market for some time and we have found the right partner in IRS.”
IRS serves the needs of accounting firms and insolvency practitioners across the UK and Ireland as they provide insurance support for companies in administration.
Through arranging broad and swift insurance coverage, IRS provides insolvent companies and administrators the protection they need to successfully emerge from administration.
Adam Loveitt, IRS managing director, added: “We are very excited to be joining Specialist Risk Group and look forward to working together to serve the business community at this challenging time, and for many years to come.”
SRG is a specialist insurance broker, and has previously acquired Miles Smith, The Underwriting Exchange, Square Mile Broking and David Codling and Associates.
Meanwhile, independent alternative asset investment management company Pollen Street’s capital partner, Ian Gascoigne, said: “IRS is an exciting addition to the SRG’s specialist risk product suite, further enhancing SRG’s position as one of the most dynamic and fast-growing insurance distribution platforms in the European market.