Specialist Risk Group acquires construction focused MGA

Specialist Risk Group has acquired managing general agent GB Underwriting, which specialises in providing property and liability solutions to brokers with building and construction sector clients.

Warren Downey, group CEO at SRG, said: “We are delighted to announce our acquisition of GB Underwriting, who bring a wealth of experience and expertise in the insurance of building and construction trades. Developing a market leading MGA capability is a central element of our strategy and we expect to make further progress in this area during 2021.”

James Gerry, GB Underwriting executive chairman, said: “Joining forces with SRG is a fantastic move for our staff and broker partners. My team are particularly excited to be part of a fast-growing intermediary for specialist businesses and the opportunity SRG will bring for our people and our broker partners.”

Private equity firm HGGC took a majority stake in SRG at the end of last year and the GB Underwriting deal follows last week’s acquisition of equine broker KBIS.

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