Mon, 12 Jan 2026 | BUSINESS SALE
Kennett Insurance & Risk Management, a Yorkshire-based insurance broker, is set to be acquired by national insurance intermediary Specialist Risk Group (SRG), subject to regulatory approval.
Operating from offices in Leeds and Hull, Kennett Insurance has built a strong reputation for its client service and expertise across traditional sectors including construction, manufacturing, the service industry, property and logistics, as well as in more niche areas.
The acquisition bolsters SRG’s presence in the Yorkshire region, while further enhancing the breadth and depth of its UK retail offering. Kennett will join SRG’s UK Retail pillar post-acquisition, supporting the group’s strategy of adding specialist, locally-focused businesses across a broader national and international platform.
Lee Anderson, Group Deputy Chief Executive at SRG, said: "The acquisition of Kennett Insurance is another important step in the continued development of our UK Retail business in the North of England. We are deliberately building scale rooted in specialism, strong regional presence, and high quality teams. The Kennett team brings expertise in sectors that matter to SRG and a team whose values and approach align closely with our own."
Daniel Schofield, Managing Director of Kennett Insurance & Risk Management, added: “SRG's commitment to people and long term growth makes it a natural home for our business and our clients. This partnership allows us to retain our client focus, while benefiting from the scale, support, and opportunities that come with being part of a wider group."
SRG has established itself as a prominent consolidator in the UK insurance intermediary market over recent years, during a period of significant M&A activity in the sector. Launched in 2020 and initially backed by private equity firm HGGC, the firm is now owned by specialist investors Warburg Pincus and Temasek.
In the year to December 31 2024, parent company Specialist Risk Investments Limited reported turnover of £108.8 million, up from £77.2 million, while adjusted EBITDAE rose from £25.2 million to approximately £40 million.
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