Fast-growing insurance broker, Specialist Risk Group, announces latest acquisition of equestrian specialist, KBIS British Equestrian Insurance
Following a busy 2020, capped off by Specialist Risk Group (SRG) announcing their new majority shareholder, HGGC (subject to regulatory approval), SRG continue to grow at pace through the acquisition of KBIS, a well-established broker within the equestrian market.
KBIS was purchased by Guy and Liz Prest in 1991 and the business has continued to go from strength to strength under their leadership. KBIS specialise in a wide product range for the equestrian, including horse insurance, property insurance, horsebox and trailer insurance, cover for equestrian businesses and more.
Warren Downey, Group CEO of SRG said: “We are delighted to welcome KBIS to SRG. They have serviced the equestrian industry for many years and bring another specialist capability to our expanding Group. KBIS’s sector expertise is exactly what we want to develop within the Group, as we continue in our pursuit to become the natural home for specialist people and businesses.”
Guy Prest, Managing Director of KBIS said: “SRG are an excellent fit for KBIS, both culturally and strategically. We are proud of the reputation KBIS have built within the equestrian market and are looking forward to being able to further enhance our offering as part of the Group. We are particularly excited to expand our distribution capabilities through the Group’s Irish and EU business, TUE.”
KBIS will sit within SRG’s rapidly expanding Retail business, Specialist Risk Insurance Solutions (SRIS). SRIS was established in July 2020, through the merger of Square Mile Broking, Miles Smith Insurance Solutions, David Codling and Associates and the TUE Special Risk team. In July 2020, Specialist Risk Group announced they had agreed to acquire Insolvency Risk Services (IRS), a deal which completed in October. IRS also operate as part of Specialist Risk Insurance Solutions.
Lee Anderson, Managing Director of SRIS comments: “2020 was an exciting year for SRIS. Following the launch of SRIS in July, we are delighted to add IRS and KBIS to our growing business. We are pleased with the progress we made in 2020 and are looking forward to our momentum continuing into 2021 and beyond.”