Specialist Risk Group expands retail business with acquisition

Insurance broker Specialist Risk Group (SRG) has acquired equestrian specialist KBIS British Equestrian Insurance to expand its distribution capabilities and market presence.

KBIS specialise in a wide product range for the equestrian, including horse insurance, property insurance, horsebox and trailer insurance, cover for equestrian businesses and more.

KBIS will sit within SRG’s retail business Specialist Risk Insurance Solutions (SRIS), which was established in July 2020 through the merger of Square Mile Broking, Miles Smith Insurance Solutions, David Codling and Associates and the TUE Special Risk team. In July 2020, Specialist Risk Group agreed to acquire Insolvency Risk Services (IRS).

Warren Downey, group CEO of SRG, said: “KBIS’s sector expertise is exactly what we want to develop within the Group, as we continue in our pursuit to become the natural home for specialist people and businesses.”

Lee Anderson, managing director of SRIS, added: “2020 was an exciting year for SRIS. Following the launch of SRIS in July, we are delighted to add IRS and KBIS to our growing business. We are pleased with the progress we made in 2020 and are looking forward to our momentum continuing into 2021 and beyond.”

Guy Prest, managing Director of KBIS, said: “SRG are an excellent fit for KBIS, both culturally and strategically. We are proud of the reputation KBIS have built within the equestrian market and are looking forward to being able to further enhance our offering as part of the Group. We are particularly excited to expand our distribution capabilities through the Group’s Irish and EU business, TUE.”