Growth investors complete major acquisition of SRG

Singapore-based Temasek Holdings and New York-based Warburg Pincus have completed their acquisition of Specialist Risk Group (SRG).

The deal was first announced in May 2024 and will provide SRG with additional funding to execute its growth strategy.

The broker said that regulatory approvals for the acquisition to go ahead had now been received.

Warren Downey, group chief executive at SRG, said: “Securing Warburg Pincus and Temasek as our investment partners is not just an endorsement of our business model, but a significant milestone that will shape the future of SRG.

“This partnership brings greater firepower and a strategic edge, enabling us to move decisively through the next chapter of our growth journey.”

’Uniquely positioned’

While terms of the transaction were not disclosed by SRG, a report from Bloomberg said the two international growth investors will put in over £1bn alongside the broker’s management team.

SRG currently employs over 600 people and places premiums of more than £1bn.

Downey said: “Our vision is to continue our people and culture obsession and specialist orientation whilst expanding internationally.

“With the support of Warburg Pincus and Temasek, we are uniquely positioned for the next chapter of the SRG story.”

James O’Gara, managing director at Warburg Pincus, added: “We are delighted to partner with the talented management team at SRG.

“SRG’s distinctive focus on specialist and complex insurance, as well as its unique people and culture approach, sets it apart. We believe our investment alongside Temasek will help to cement SRG’s leading position in the UK and creates a platform to expand internationally.’