Wed, 24 Jul 2024 | BUSINESS SALE
Specialist Risk Group (SRG) has announced that it has agreed to acquire specialist property and casualty (P&C) managing general agent (MGA), Trilogy Underwriting. The deal is the latest addition to SRG’s underwriting pillar MX and the second MGA it has acquired in 2024.
Earlier this year, SRG acquired political violence specialist Tristar Special Risks. Over the past few years, MX’s other acquisitions include CLS Risk Solutions, Blackrock Insurance Solutions, GB Underwriting and the MPLC.
Trilogy Underwriting was formed in 2013 and specialises in the property and casualty markets. The firm, which is led by Managing Director Chris Blackwell, supports a select panel of UK wholesale and retail brokers. It holds delegated underwriting authority from major insurers, with a minimum of A-rated security.
Blackwell said that joining the MX pillar of SRG would provide significant opportunities and benefits for the firm’s broker partners and team members.
He continued: “The enhanced scale and collective experience of MX will enable us to further develop our offering and ensure we continue to support our broker partners with complex property and casualty risks.”
“I am looking forward to working with Lee, Ian Cook, and the wider MX team to enhance the specialist London Market offering available within MX.”
SRG Group Deputy CEO Lee Anderson (pictured above) commented: “Trilogy will help us expand our footprint at pace in the London Market while supporting wholesale and retail brokers, and their clients. The Trilogy team also enhances our specialist underwriting capability and access to the London Market’s area of expertise.”
As well as adding two businesses to its underwriting pillar this year, SRG also announced earlier this month that it had acquired the ongoing business of Carriagehouse, a longstanding firm catering to the equestrian industry.
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