Specialist Risk Group snaps up jewellery broker

Specialist Risk Group has made its second acquisition in as many months, snapping up specialist jewellery broker David Codling & Associates for an undisclosed sum. 

The specialist intermediary business now owns Miles Smith, The Underwriting Exchange, and Croydon-based Square Mile broking which it bought in October. 

David Codling & Associates was set up in 2004 by former Lloyd’s broker David Codling and is based in sevenoaks, Kent. It specialises in specie and jewellers block cover. SRG said the acquisition adds ”a specialism to its fast-growing business for distribution through all its current channels”.

Commenting on the purchase, David Codling said Specialist Risk Group is a fast-growing business and I am excited to add our Specie and Jewellers’ Block expertise to SRG’s offering.

”I know many of the team well and look forward to joining the Group and expanding our business together.”

Warren Downey, SRG group cheif executive added: ”We  are known for doing difficult things well and David and his team certainly fit the bill and will add significant value to our business and that of our trading partners.

“We are delighted to welcome David Codling & Associates to Specialist Risk Group as our latest area of specialty focus.”

Last month Downey told Insurance Times that it intended to make more acquisitions following the purchase of Square Mile. Downey joined SRG in september from JLT where he had been CEO for its global private client business.