Specialist Risk Group (SRG), a leading insurance intermediary, has announced its acquisition of NW Re, a specialist reinsurance firm. This move aims to strengthen SRG’s underwriting capabilities and expand its service offerings for broker partners.
Founded in 2020 by industry experts Neil Wallis, Neil Walker, and Tallis Kemp, NW Re specializes in property facultative reinsurance and excess of loss insurance. Its focus areas include retail, manufacturing, real estate, and leisure industries.
Integration into SRG’s Underwriting Division
The NW Re team will be integrated into SRG’s underwriting division, MX. This integration is expected to enhance SRG’s portfolio of specialist underwriting services. SRG views NW Re’s expertise in UK property reinsurance as a significant asset that will bolster MX’s offerings. The acquisition is part of SRG’s strategy to provide a comprehensive range of specialized underwriting solutions tailored for brokers and their clients, thereby reinforcing its commitment to the reinsurance market.
Lee Anderson, group deputy CEO of SRG, described the acquisition as a pivotal development for MX. “The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients,” he stated. Anderson expressed confidence that NW Re would add substantial value to MX’s capabilities, furthering SRG’s expansion of specialized services for its broker partners.
NW Re Co-Founder Expresses Enthusiasm for the Partnership
Neil Wallis, co-founder of NW Re, expressed excitement about the merger. He believes that joining forces with SRG will enhance NW Re’s presence in the UK market. Wallis stated that the partnership would enable NW Re to continue offering tailored reinsurance solutions while leveraging SRG’s resources to support its commitment to specialty insurance.
The acquisition marks a significant step for SRG as it continues to grow and adapt within the competitive insurance landscape, aiming to deliver increased value and innovative solutions for its clients.
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