Specialist Risk Group

What Specialist Risk Group does

Specialist Risk Group (SRG) is a London-headquartered specialist insurance intermediary that places approximately £1.6 billion of premium annually into the global insurance market, operating through three pillars: Specialist Risk Insurance Solutions (SRIS) for UK retail broking, MX for managing general agent (MGA) underwriting across property, casualty, motor fleet, terrorism, medical professional liability, and specialty lines, and Specialist Risk International (SRI) for global complex placements. The company serves clients with complex risk-transfer requirements that mainstream brokers avoid, spanning construction, healthcare, entertainment, manufacturing, energy, recruitment, motor trade, art and private clients, and medical professional liability, alongside broker and insurer partners seeking specialist capacity.

SRG has built its scale primarily through acquisition, completing over 25 deals since its 2020 launch by founders Warren Downey (Group CEO) and Lee Anderson (Group Deputy CEO). Retained brand identities — Hamilton Leigh, Brentacre, Anthony James, CBC, Miles Smith, Stonehatch, Tristar, Trilogy, Capulus, Generation, NW Re, One Claim, Kennett, HL Suntek, and the Ecclesia Dutch/Belgian cluster — preserve specialist expertise and client relationships, while the "SRG Platform" provides shared services, capital, and cross-business referral leverage. The model is intermediation-based: SRG earns commissions and fees on placements, with no publicly disclosed pricing tiers and quote-based economics driven by risk complexity.

The company is private, backed by majority shareholders Warburg Pincus and Temasek since May 2024, with Ecclesia Group joining as a strategic investor in 2025; management retains a significant stake. The business has expanded from a UK-only footprint to operating in the United Kingdom, Netherlands, Belgium, Singapore, and Australia, with 1,500+ employees (50% outside the UK as of mid-2025) and reported revenue above £250 million for 2025. Core technology is the internal SRG Platform supporting specialist teams; no proprietary AI, software products, or public API surface is disclosed.

Name

Specialist Risk Group

Legal name

Specialist Risk Group Limited

Website

https://specialistrisk.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Specialist Risk Group is a London-based specialist insurance intermediary placing £1.6 billion of premium globally through retail (SRIS), underwriting (MX), and international (SRI) pillars, serving mid-market and enterprise clients with complex risk-transfer needs across construction, healthcare, energy, entertainment, and other specialty lines.

Ownership category

akta.pro rank

Product category

Specialist Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Professional Firms BOP (Office/Professional) (FSAJAFAE)

Keywords

• Specialist insurance broking
• Managing general agency
• Commercial insurance brokerage
• Wholesale insurance services
• Trade credit insurance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance intermediation and brokerage commissions: SRG places £1.6 billion of premium into the global insurance market as an intermediary, earning commissions and fees from insurance placements for clients and broker partners.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

SRG is a multi-pillar specialist insurance intermediary that places approximately £1.6 billion of premium annually into the global insurance market on behalf of clients, broker partners, and insurer partners. The group operates three core divisions: Specialist Risk Insurance Solutions (SRIS) for UK retail broking across commercial, corporate, and high-net-worth personal lines; MX as a managing general agent underwriting platform spanning property, casualty, motor fleet, liability, terrorism, and specialty lines; and Specialist Risk International (SRI) for global specialty broking. The business has grown to 25+ acquired specialist brands covering sectors including construction, healthcare, entertainment, manufacturing, motor trade, recruitment, equine, and medical professional liability.

Product overview

Specialist Risk Group (SRG) operates as a multi-pillar insurance intermediary with three core divisions: Specialist Risk Insurance Solutions (SRIS) for UK retail broking, MX for underwriting/MGA operations, and Specialist Risk International (SRI) for global specialty broking. The company has grown through over 25 acquisitions since its founding in 2019, integrating specialist brokers and MGAs into its platform. These acquired brands include Hamilton Leigh (motor trade/technology), The Channel Partnership (trade credit), Consort Insurance (mid-market), Anthony James (UK retail), Trilogy Underwriting (property/casualty MGA), Capulus (motor fleet MGA), Brentacre Insurance (specialist vehicles), Generation Underwriting (SME/mid-market MGA), NW Re (reinsurance), One Claim (claims management), Stonehatch (bloodstock/livestock), HL Suntek (Singapore), CBC Partnership (London), Ecclesia operations (Europe), Fleet and Commercial, TLO Risk Services (professional lines), Cheshire Insurance Brokers, The MPLC (medical liability), Tristar Special Risks (terrorism), Strategic Insurance Services (schemes), and Miles Smith (wholesale). SRG places approximately £1.6 billion of premium into the global insurance market and is backed by Warburg Pincus, Temasek, and Ecclesia Group.

Differentiator

Problem solved

Functional benefit

Brands

• MX: SRG's underwriting pillar and Managing General Agent platform launched in December 2021, providing specialist underwriting solutions across property, casualty, motor fleet, and specialty lines.
• Specialist Risk Insurance Solutions (SRIS)
• Specialist Risk International (SRI)
• Miles Smith

Products and services

• Specialist Risk Insurance Solutions (SRIS) SRG's UK retail pillar providing specialist insurance solutions across commercial, corporate, and high-net-worth personal lines for mid-market and corporate clients.
• MX (Underwriting Pillar) SRG's managing general agent (MGA) platform providing underwriting capabilities across property, casualty, motor fleet, liability, terrorism, medical professional liability, reinsurance, and specialty lines with delegated underwriting authority from major insurers.
• Specialist Risk International (SRI) SRG's international specialty broking business providing global complex insurance programme placement capabilities, leveraging Worldwide Broker Network membership for local market access.
• Hamilton Leigh Commercial broker dating back to 1987 with particular expertise in Motor Trade and Technology sectors, part of the SRIS retail division.
• The Channel Partnership SRG's dedicated Trade Credit business providing specialist insurance solutions for credit risk management.
• Consort Insurance Mid-market commercial broker serving construction, manufacturing, healthcare, entertainment, and fire risk sectors through its Protection and Detection (PaD) product.
• Anthony James Insurance Brokers UK insurance broker founded in 2009 providing services across commercial, corporate, and high-net-worth personal lines from Loughborough and Nottingham offices.
• Trilogy Underwriting Property and casualty MGA formed in 2013, supporting wholesale and retail brokers across the UK with delegated underwriting authority from major insurers.
• Capulus Specialist motor fleet MGA based in Wales, enhancing SRG's motor fleet capabilities across UK and Ireland.
• Brentacre Insurance Specialist schemes broker founded in 1987 providing insurance for modified, classic, and performance vehicles, as well as specialist commercial vehicles.
• Generation Underwriting MGA with offices in Newcastle and Belfast, partnering with brokers across SME and mid-market space for Commercial Combined, Property Owners, Fleet, and Contractors All Risks products.
• NW Re Specialist reinsurance firm founded in 2020 providing Property Facultative Reinsurance and Excess of Loss Insurance across retail, manufacturing, offices, real estate, and leisure.
• One Claim Limited Claims management provider based in Essex offering broker partners and clients support from initial notification through to settlement, with expertise in motor fleet sector.
• Stonehatch Broker specializing in bloodstock and livestock insurance, strengthening SRG's equine insurance offerings for domestic and international markets.
• CBC Partnership London-based insurance intermediary specializing in Professional Lines, operating from City of London headquarters with 100 team members.
• Ecclesia Dutch and Belgian Operations Seven businesses including BS&F, Concordia, Ecclesia BV, Finance & Insurance, IC Verzekeringen NV - CI Assurances SA, Sibbing, and XOLV, marking SRG's entry into mainland Europe with 700 new colleagues.
• TLO Risk Services Professional risk specialists primarily serving the legal sector, providing insurance solutions to barristers, law firms, arbitrators, mediators, accountants, surveyors and estate trustees.
• Cheshire Insurance Brokers Insurance broker established in 2010 specializing in tailored programmes for recruitment agencies, commercial and professional businesses, and high-net-worth clients.
• The Medical Professional Liability Company (The MPLC) Medical professional liability insurance and reinsurance specialist based in Gibraltar and London, serving UK and international brokers with healthcare client solutions.
• Tristar Special Risks Terrorism and political violence insurance specialist supporting UK broker partners with coverage for commercial and residential risks including political and religious properties.
• Strategic Insurance Services Limited (SISL) Specialist schemes broker established in 1997 based in West Sussex, providing deeply specialist schemes for insurers, brokers and financial services clients throughout Europe.
• HL Suntek Insurance Brokers Singapore-based insurance broker acquired from Hong Leong Holdings, forming the foundation of SRG's Asia Pacific presence.
• Miles Smith Wholesale Wholesale broker platform integrated with the acquired Lockton wholesale team, enhancing SRG's wholesale offering across financial, property, and casualty lines in the London market.

Quantifiable outcome

• Achieved premium reductions and expanded coverage for clients through cross-business collaboration
• +3 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• ICIEC (Islamic Development Bank Group)minorStrategic or Co-development Partner · 17 June 2026SRG's Global Head of Credit & Political Risk John Lentaigne participated in IsDB Group Private Sector Forum highlighting ICIEC's role as guarantor in mobilizing private reinsurers for infrastructure projects in developing countries.
• Worldwide Broker NetworkminorStrategic or Co-development Partner · 11 February 2026SRG's international specialty broking business SRI utilizes Worldwide Broker Network membership for global placements and accessing local markets in US and Asia.

Scale indicators8 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Pen Underwriting: Pen Underwriting is a UK managing general agent providing delegated underwriting across property, casualty, and specialty lines — a directly comparable MGA platform to SRG's MX pillar with similar London-market focus and broker distribution model.
• Besso Insurance Group: Besso is a London-based independent insurance and reinsurance broker with a specialism focus across multiple specialty lines, including political risk and reinsurance. Comparable as a London-market specialist competitor with similar client overlap.
• Howden Group Holdings: Howden is a London-headquartered specialist insurance broker built through a similar M&A-driven roll-up of specialty broker talent, with global expansion across Europe, Asia, and Latin America. Closest direct comparable in business model, sponsor-backed growth trajectory, and specialism-led positioning.
• Consilium (formerly Consilium Insurance Brokers): Consilium is a specialist insurance broker operating across multiple specialty lines with a similar specialism-led platform model. Comparable as a mid-market UK specialty broker competitor targeting similar client niches.

Broad incumbents

• Lockton Companies: Lockton is the world's largest independent insurance broker with strong UK specialty capabilities and London-market presence (Lockton is the prior employer of SRG's UK CEO Neil Nimmo and wholesale team hire Shelley Wright). Comparable as a specialty broker competitor and a known acquirer of specialist talent.
• Hub International: Hub International is a North American insurance broker built via aggressive M&A across specialty and mid-market segments. Comparable in M&A-led growth strategy and specialty orientation, with some overlap in entertainment, healthcare, and professional lines.
• Aon plc: Aon is one of the world's largest insurance and reinsurance brokers with a strong London specialty presence. Comparable as a competitor for large complex and specialty placements globally, and a benchmark for the scale SRG may eventually seek to reach.
• Marsh McLennan: Marsh is one of the world's largest insurance brokers with a dominant London specialty and risk practice. Comparable as a competitor for complex placements and enterprise clients, and is the former employer of SRG's APAC CEO Collin Yap. Significantly broader and more resourced than SRG.
• Arthur J. Gallagher & Co. Gallagher is a global insurance broker and risk management services firm with a substantial UK specialty broking presence built via acquisitions. Comparable in M&A-driven growth and specialty brokerage focus, but materially larger and broader in scope than SRG.

Emerging players

• Rokstone Underwriting Managers: Rokstone is a London-based specialty MGA providing delegated underwriting authority across multiple specialty lines, comparable to SRG's MX MGA platform but at a smaller, more focused scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/specialist-risk-group
• Instagraminstagram.com/specialistriskgroup
• Xx.com/SpecialistRisk

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries25 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Specialist Risk Group