SRG announces acquisition of political violence specialist, Tristar Special Risks

Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist.

For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insurance and supports broker partners across the UK through its coverage for all types of commercial and residential risks, which includes political and religious properties.

This acquisition continues SRG’s build out of their Managing General Agent (MGA) MX, which was launched in late 2021.

Lee Anderson, SRG Group Deputy CEO, commented: “We first engaged with James and the Tristar team at the SRG Market Briefing in January 2020. It was clear at the time that both businesses shared the same ambitions and were culturally aligned. Today marks the moment when we join forces and look forward to an exciting future working together.”

Adding: “Tristar Special Risks is a great example of what SRG looks for in the ideal team and business. They have deep expertise and credibility in their specialist area, and I know that they will go from strength to strength from being part of SRG.”

James Woolerton, Tristar Special Risks Managing Director, said: “Joining Specialist Risk Group marks a significant milestone for Tristar Special Risks and brings exciting opportunities for our broker partners. With SRG’s infrastructure and market presence, we look forward to improving all aspects of our offerings; continuing to provide best in market terrorism insurance solutions and providing the unique and market-leading levels of innovation, flexibility, collaboration and expertise our brokers value so highly.”

In related news, SRG recently agreed to acquire specialist schemes broker, Strategic Insurance Services Limited (SISL), subject to regulatory approval.