SRG acquires MGA as it looks to expand motor fleet offering

Specialist Risk Group (SRG) has acquired Capulus as part of plans to expand in the motor fleet sector.

Wales-based Capulus is a managing general agent (MGA) that delivers bespoke motor fleet propositions to UK broker partners.

SRG said acquiring the firm would increase its capabilities across its retail, wholesale and underwriting pillars.

Lee Anderson, group deputy chief executive at SRG, said: “The culture and approach of the business are a natural fit with ours.

“This partnership is a key milestone in our journey to bring together like-minded teams that are committed to delivering exceptional service and support to our broker partners across the UK and Ireland.”

Moves

The deal will see Capulus’ team of 21 join MX, SRG’s MGA arm.

“Capulus’ integration into MX will strengthen our shared culture of excellence and ensure that its clients continue to receive the high level of service they expect, now enhanced by the broader capabilities and resources of SRG,” Anderson said.

Darren Ovenden and Kevin Smith, who are both directors at Capulus, said: “Joining SRG and MX is an exciting new chapter for Capulus. We are proud of what the team has achieved so far and believe that, with SRG’s support, we can take our proposition to the next level.

“This partnership will accelerate our growth and enable us to offer even more robust solutions to our UK broker partners. We are eager to start this journey with SRG and contribute to its ongoing success in the motor fleet market.”