Liberty Syndicates has acquired the insurance portfolio of the specialist insurance provider Strike Risks Management (SRM).
SRM specialises in insuring against consequential loss caused by strike action, both marine and non-marine, as well as business interruption not caused by physical damage to the premises.
Liberty Syndicate 4472 will lead a consortium to underwrite the business, which was formerly placed by way of several facilities at Lloyd's.
“For the past five years SRM has been managed by Lesley Allan with the assistance of Daniel Gray. Daniel has already joined Liberty Syndicates as an underwriter supporting SRM's existing product range, and Lesley will serve as a consultant to Liberty going forward,” said Liberty Syndicates in a statement.
Tom Corfield, the Active Underwriter of Syndicate 4472, said:“Liberty Syndicates are delighted to have acquired the unique skills of the SRM personnel and look forward to building on that expertise to develop and expand what is undoubtedly an innovative product.”
