Broking group continues acquisition spree with broker buy

Specialist Risk Group (SRG) has continued its acquisition spree with the purchase of R3.

R3 is a broker that provides propositions across the tourism, charity, overseas aid, military and police sectors.

The deal will see the firm join Specialist Risk Insurance Solutions (SRIS), SRG’s retail pillar.

R3’s Rob Proudman said: “This is an exciting next chapter for R3. SRG’s reputation for investing in and developing industry-leading specialist teams is second to none.

“We therefore look forward to sharing our expertise with the SRIS team and together, we will continue our mission to serve clients with the highest level of specialism and dedication.”

Acquisition spree

SRG has been on an acquisition spree since being acquired by Singapore-based Temasek Holdings and New York-based Warburg Pincus in May 2024.

The deal has provided SRG with additional funding to execute its growth strategy and firms it has acquired as part of this include Stonehatch, Capulus and Anthony James Insurance Brokers.

R3 is SRG’s 11^th acquisition of 2024.

Lee Anderson, group deputy chief executive at SRG, said: “We are thrilled to welcome the R3 team to SRG. R3’s unique sector experience represents the very essence of SRG’s approach to building specialisms.

“Its team brings a wealth of industry-specific knowledge and we look forward to working together to expand our retail offering for UK clients.

“This partnership strengthens our retail capability and reinforces our commitment to providing clients with the specialist solutions they need to tackle complex and diverse risks.”