Specialist Risk Group buys MGA


Specialist Risk Group has announced (4 July 2024) the acquisition of Tristar Special Risks.

Tristar Special Risks has deep expertise in terrorism insurance and supports broker partners across the UK through its comprehensive coverage for all types of commercial and residential risks including political and religious properties. The acquisition of Tristar Special Risks continues SRG’s build out of their Managing General Agent, MX, which was launched in December 2021.

The acquisition of Tristar Special Risks is a further demonstration of SRG’s strategy to develop deep expertise across specialist areas. With its proven track record for attracting businesses operating in niche industries, SRG continues to pursue this strategy through the next chapter of its growth.

Lee Anderson (pictured), SRG Group Deputy CEO said:

“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.

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, added:

"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.”