The MGA is targeting its ‘next stage of growth’ following the acquisition

Insurance intermediary Specialist Risk Group (SRG) has bought specialist liability and property MGA Blackrock Insurance Solutions, based in Ireland.

The acquisition forms part of SRG’s plans to build its MGA capability – the business has already purchased GB Underwriting and CLS Risk Solutions earlier this year in line with this aim.

The addition of Blackrock Insurance Solutions to the SRG stable will also help to support its existing wholesale broker TUE as well as motor specialist MGA LIME.

Following the acquisition, Blackrock Insurance Solutions will join GB Underwriting, LIME and CLS RS to form the foundations of the group’s underwriting business.

The move also demonstrates SRG’s commitment to the Irish broking market.

Lee Anderson, Specialist Risk Underwriting Solutions chief executive, said: “I am delighted Neil [McSherry] and the Blackrock team are joining us at this exciting time in our journey.

“We remain committed to supporting Irish brokers with their specialist risks and our acquisition of Blackrock solidifies this commitment.”

Adding ‘tremendous’ value

Speaking on the deal, Warren Downey, group chief executive of 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.”

Neil McSherry, Blackrock’s managing director, added: “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.”