SRG’s latest commercial broker buy develops ‘critical’ business

Specialist Risk Group (SRG) has acquired mid-market commercial broker Consort Insurance.

Established in 2012 as Consort IB, the acquired Essex-based broker serves a range of industries including construction, manufacturing, healthcare and entertainment.

Consort managing director Danny Harwood and his team will join the group’s Specialist Risk Insurance Solutions (SRIS) business arm, led by Oliver Thorne, as part of the move.

SRG inked the deal with Consort as part of its growth strategy, with the aim of expanding its mid-market specialism in the UK and internationally.

According to Companies House, Specialist Risk Insurance Solutions’ earnings before interest, taxes, depreciation and amortisation (ebitda) for the year ending 31 December 2021 sat at £2,263,901 – up from £2,027,381 in 2020 and £1,475,339 in 2019.

‘Relish the future’

SRG deputy chief executive Lee Anderson, said: “I am absolutely thrilled that Danny and the Consort team have chosen to join us to continue to develop our fast-growing retail business, Specialist Risk Insurance Solutions.

“The Consort team will add tremendous value to our mid-market capability and I look forward to working together to continue to develop this critical part of our business.

“I have asked Danny to join the SRIS leadership team and have no doubt that he will add [huge] value in this setting.”

Harwood added that throughout the acquisition process, it was “clear that SRG shared [the firm’s] ambitions to grow organically, within a high-performing and rewarding culture”.

He continued: “I am passionate about the continued growth for the business within the mid-market space and with the support of SRG, I look forward to enhancing our service and claims proposition and expanding across the UK and internationally.

“I would like to thank my team for all their hard work and relish the future as a Specialist Risk Group company.”