Insurance industry intermediary Specialist Risk Group (SRG) has announced the acquisition of TLO Risk Services, a firm specialising primarily in the legal sector.
According to the announcement, the acquisition of TLO will enhance SRG’s professional lines offering and expand its capabilities to cater to the insurance needs of firms across a range of sectors.
TLO provides insurance solutions to a wide range of firms and individuals that provide professional advisory services. These include barristers, law firms, arbitrators and mediators, as well as accountants, investment agents, surveyors and estate trustees.
The team at the insurance broker has deep expertise of the professional indemnity market, which is underpinned by its highly respected contract and claims support. This means that TLO can provide tailored insurance solutions to firms of all sizes.
Vernon Taylor, TLO Director, commented: “I take great pride in the team and capability that we have built at TLO and am looking forward to our next chapter as part of Specialist Risk Group.
“We quickly recognised how aligned both our businesses were from a people and culture perspective. SRG’s commitment to investing in its people, training and being the home of specialists will be a big plus for our ambitious team moving forward.”
TLO will sit within SRG’s growing retail division, Specialist Risk Insurance Solutions (SRIS), which is led by Oliver Thorne. The SRIS team is seeking to double in size over the next three years by pursuing an exciting acquisition and organic growth strategy, SRG noted.
Warren Downey, SRG Group CEO, said: “I am thrilled that TLO is joining Specialist Risk Group. This is another key step in the development of our professional lines offering. The TLO team has a great reputation in the market, brings new technical skills, and adds significant expertise to our Group.
“As we got to know Vernon, Duncan, and Michael during the acquisition process, it became clear that they would be a perfect cultural fit at SRG, and I look forward to working together on the next stage of our journey.”
