Specialist Risk Group (SRG) has acquired Insolvency Risk Services (IRS), a division of MS Amlin subject to regulatory approval.
IRS serves the needs of accounting firms and insolvency practitioners across the UK and Ireland as they provide insurance support for companies in administration.
Through arranging broad and swift insurance coverage, IRS provides insolvent companies and administrators the protection they need to successfully emerge from administration.
According to SRG, IRS is a “significant player” within the UK insolvency market and this move signals their return to the insurance broking world after several years as a division of MS Amlin.
As part of the acquisition, MS Amlin will provide SRG with ongoing dedicated capacity for these risk exposures. This forms one of three strategic partnerships about which more will be announced in due course.
Warren Downey, CEO of SRG, said: “We are delighted to welcome IRS to the Specialist Risk Group. As a specialist broker known for doing difficult things well, we have been keen to enter the insolvency market for some time and we have found the right partner in IRS. “
Adam Loveitt, IRS managing director, addedd: “We are very excited to be joining Specialist Risk Group and look forward to working together to serve the business community at this challenging time, and for many years to come.”