Business

SRG continues MGA acquisition spree

The Blackrock Insurance Solutions deal represents the latest in a string of takeovers carried out by SRG, including those of GB Underwriting and CLS Risk Solutions

Insurance intermediary Specialist Risk Group (SRG) has announced the acquisition of Blackrock Insurance Solutions, a specialist Irish liability and property MGA.

The deal represents an expansion to SRG’s Irish broker market commitments, as the group invests in underwriting capability and technical expertise that will support its existing wholesale broker TUE and motor specialist MGA, LIME.

The transaction represents the latest in a string of takeovers carried out by SRG, including those of GB Underwriting and CLS Risk Solutions in January and March of this year.

In turn, Blackrock will join GB Underwriting, LIME, and CLS Risk Solutions to form the foundation of the group’s underwriting arm.

Warren Downey, CEO at SRG, said: “We are thrilled to further support our Irish broker partners through the acquisition of Blackrock Insurance Solutions. 

“The Blackrock team is a group of genuine specialists who add tremendous value and expertise to the group’s underwriting capability.”

Neil McSherry, managing director at Blackrock, said: “I believe SRG are an exciting home for our business, as we look to our next stage of growth. 

“We are very much looking forward to joining forces with Warren, Lee, and the team to continue to service our brokers within the Irish market.”

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