Specialist Risk Group buy taxi experts Emrose Insurance Brokers
It is the fifth deal this year for SRG which is backed by majority shareholder HGGC.
Specialist Risk Group (SRG) has added Ilford-based Emrose Insurance Brokers to its stable, subject to regulatory approval.
According to SRG, Emrose has more than 40 years of experience supporting clients operating within passenger transportation, with particular expertise in London Taxis.
The deal will see 15 Emrose staff become part of SRG and remain in Emrose’s Ilford office. It is unclear if the brand will be kept and SRG did not disclose how much GWP the move will bring to the wider business.
It is the fifth acquisition for the group since the start of the year.
Deals
Most recently SRG bought CLS Risk Solutions which added £30m in GWP to the business.
Earlier this year it also acquired on from SRG’s deals to buy KBIS, GB Underwriting and trade credit specialist, The Channel Partnership.
The deal follows investment in SRG by majority shareholder HGGC in December last year.
The Group has also promoted Lee Anderson to group deputy CEO and appointed Clare Lebecq as group COO to drive the next stage of growth.
Growth
Warren Downey, SRG Group CEO said: “We are thrilled for Emrose to join our Group to enhance our specialist offering. Emrose is a well-respected business in their markets and we are looking forward to working with the team to further support and grow the business.”
Lawrence Rose, Emrose managing director, added: “We have enjoyed getting to know Warren and Lee during the sale process and are looking forward to some really exciting times ahead for our business”.
Emrose Insurance Brokers will sit within SRG’s Retail division, Specialist Risk Insurance Solutions. In the last 12 months Insolvency Risk Services, KBIS British Equestrian and The Channel Partnership have also joined SRIS.
Lee Anderson, SRIS managing director, added: “I am delighted to welcome Lawrence and the Emrose team as part of SRIS We are making great progress as a business and I look forward to the Emrose team playing an important part as we continue to grow our specialist retail capability.”
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