Specialist Risk Group acquires equestrian broker

Specialist Risk Group (SRG) has bought KBIS for an undisclosed sum.

It is the first deal for the business since it announced investment from private equity provider HGCC late last year.

Warren Downey, Group CEO of SRG said: “We are delighted to welcome KBIS to SRG. They have serviced the equestrian industry for many years and bring another specialist capability to our expanding Group.

“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.”

Culture
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.”

According to a statement from SRG, KBIS will sit within the broker’s retail business, Specialist Risk Insurance Solutions (SRIS).

SRIS 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 announced it had agreed to acquire Insolvency Risk Services (IRS), a deal which completed in October. IRS also operates as part of Specialist Risk Insurance Solutions.

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.”

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