SRG makes acquisition to expand underwriting capabilities

Specialist Risk Group (SRG) has acquired (re)insurance firm NW Re as it looks to expand its underwriting capabilities.

Founded in 2020, NW Re provides property facultative and excess of loss propositions for a range of sectors, including retail, manufacturing, real estate and leisure.

The team at NW Re will join forces with SRG’s underwriting pillar, MX, as part of the deal.

Other firms to join MX in 2024 include Trilogy Underwriting, Capulus and Tristar Special Risks.

’Exciting step’

Speaking about the acquisition of NW Re, Lee Anderson, group deputy chief executive at SRG, said: “This deal marks yet another exciting step in the growth of our underwriting pillar MX.

“The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients.

“There is no doubt that the NW Re team will add significant value to MX’s capability as we continue to expand our specialisms and deliver even more value for our broker partners.”

Neil Wallis, co-founder at NW Re, added that “partnering with SRG now enables us to bring our expertise to a wider audience and to work within a group that totally shares our commitment to specialty insurance”.

He added: “We are delighted to be joining SRG and to be working alongside our new colleagues at MX. From the outset, we have always maintained the goal of providing reliable, tailored insurance solutions in the UK market.

“We look forward to providing even greater value to our broker partners working in partnership with our new colleagues from SRG and the MX team.”