Insurance industry intermediary Specialist Risk Group (SRG) has announced the acquisition of mid-market commercial broker Consort Insurance.
The deal, which is subject to regulatory approval, will see Consort Managing Director Danny Harwood and his team join Specialist Risk Insurance Solutions (SRIS), led by Oliver Thorne who was named ist Managing Director in October 2022.
Consort is a specialist broker supporting a range of industries including construction, manufacturing, healthcare and entertainment.
Based in Witham, Essex, the business also offers exclusive specialist insurance for organisations with an exposure to fire risk through its Protection and Detection (PaD) product.
According to the announcement, SRG’s acquisition of Consort will continue to expand SRIS’s mid-market specialism, which the Consort team will play a fundamental role in helping to further develop in the UK and internationally.
The acquisition continues SRIS’s ambitious growth strategy, which has seen the business double in size in the last three years.
Commenting on the acquisition, Lee Anderson, SRG deputy CEO, 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 tremendous value in this setting.”
Harwood added that throughout the deal process it became clear that SRG shared our ambitions to grow organically, within a high-performing and rewarding culture.
He said: “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.”