Specialist Risk Group, an insurance intermediary backed by Warburg Pincus and Temasek, has announced the acquisition of specialist insurance broker, R3.
This marks SRG’s eleventh acquisition in 2024, following previous acquisitions which include Stonehatch, Capulus, and Anthony James Insurance Brokers.
R3 provides customised insurance solutions to various sectors, including UK Tourism, Charities and Overseas Aid, and UK Military and Police.
By joining SRG’s retail pillar, Specialist Risk Insurance Solutions, R3 will contribute valuable expertise and capabilities to SRIS’s portfolio of specialised services, bolstering its expertise in complex risk areas.
Since its creation, the R3 team has established a distinguished reputation within the insurance market developing profound knowledge in each of their core business areas.
The team exhibits a unwavering commitment to comprehending the distinctive risks faced by clients in these sectors. Moreover, SRG highlighted, they possess the exceptional ability to craft customized insurance solutions, meticulously tailored to meet the specific needs of their clients.
Lee Anderson, Group Deputy CEO of SRG, commented: “We are thrilled to welcome the R3 team to Specialist Risk Group. R3’s unique sector experience represents the very essence of SRG’s approach to building specialisms.
“Their team brings a wealth of industry-specific knowledge, and we look forward to working together to expand our retail offering for UK clients. This partnership strengthens our retail capability and reinforces our commitment to providing clients with the specialist solutions they need to tackle complex and diverse risks.”
Rob Proudman, R3, said: “This is an exciting next chapter for R3. SRG’s reputation for investing in and developing industry-leading specialist teams is second to none. We
therefore look forward to sharing our expertise with the SRIS team and together, we will continue our mission to serve clients with the highest
level of specialism and dedication”.
