Specialist Risk Group acquires Blackrock Insurance as it builds underwriting business

Specialist Risk Group (SRG) has acquired  Blackrock Insurance Solutions, a specialist Irish liability and property managing general agent (MGA).

SRG said the new specialist underwriting capability and technical expertise it has gained through the deal will support existing wholesale broker TUE, and the motor specialist MGA, LIME.

Blackrock is the latest in a series of MGAs SRG has bought in recent months, following the acquisitions of GB Underwriting and CLS Risk Solutions, subject to regulatory approval, earlier in 2021.

Blackrock joins GB Underwriting, LIME and CLS RS, to form the foundations of its underwriting business.

Warren Downey, SRG’s group chief executive officer, said: “The Blackrock team is a group of genuine specialists who add tremendous value and expertise to the group’s underwriting capability.”

Neil McSherry, Blackrock managing director, added: “I believe SRG are an exciting home for our business, as we look to our next stage of growth.”

SRG is an integrated group of insurance intermediaries arranging specialist insurance for corporates and individuals. It serves over 45,000 end policyholders across multiple lines of business, specialising in creating solutions to challenging risk transfer questions.

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