SRG boosts retail capabilities with new broker buy

Specialist Risk Group (SRG) has acquired Cheshire Insurance Brokers (CIB) as it looks to strengthen its retail capabilities, a statement released yesterday (17 August 2023) said.

Based in north-west England, CIB provides insurance solutions to recruitment agencies worldwide, including cover for commercial and professional businesses and high net worth clients in the UK.

It was established in 2010 by Dominic Leach and Victoria Benito.

SRG said acquiring the firm strengthened its Specialist Risk Insurance Solutions (SRIS) division’s retail offering for corporate and private clients.

SRG deputy chief executive Lee Anderson added acquiring CIB ”reinforces our commitment to investing in specialist areas”.

“As soon as I met Dominic, I knew that him and his team would thrive as part of the SRG team,” Anderson said.

”Therefore, I am delighted to welcome CIB to SRG. 

”SRIS has made significant strides in recent years and with the addition of CIB, we aim to build on this success and continue delivering an outstanding retail offering to our clients and partners.”

’Exciting opportunity’

The deal marks SRG’s fifth acquisition in 2023.

Acquistions already made include the purchase of TLO Risk Services (May 2023), The Medical Professional Liability Company (April 2023), Consort Insurance (March 2023) and Fleet and Commercial Insurance Brokers (January 2023). 

As part of its growth strategy, SRG also launched Specialist Risk Europe – headquartered in Dublin, Ireland – in April.

“Joining forces with SRG is an exciting opportunity for the clients of CIB,” said Leach.

“We look forward to leveraging our specialist expertise combined with SRG’s resources and network, to continue to provide an outstanding offering and service to our clients.”