Specialist Risk Group (SRG), a rapidly expanding insurance intermediary, has revealed its acquisition of the ongoing business of Carriagehouse.
Carriagehouse, with over three decades of experience, caters to the equestrian industry by offering a variety of specialised products, including policies for horses and donkeys, horseboxes and trailers, carriages and harness, and commercial carriage drivers.
The acquisition complements SRG’s existing equestrian portfolio, particularly KBIS, which joined SRG in January 2021. According to SRG, its investment in Carriagehouse underscores the group’s dedication to supporting niche markets.
“This is a great deal for SRG and reinforces our commitment to investing in specialist sectors across the UK and internationally,” said Lee Anderson (pictured), SRG group deputy chief executive.
“KBIS are leaders in the equestrian industry, and the addition of the Carriagehouse book will enable them to support a more diverse client base within this specialist sector.”
Fiona Gordon-Clarke, director at Carriagehouse, had this to say about the transaction, financial terms of which were not disclosed: “I am excited by this deal and am looking forward to further supporting our Carriagehouse clients as they move over to KBIS.
“It is important to me that our clients continue to receive the high level of service and specialist coverage they have come to expect. The synergy between our teams and the comprehensive range of equestrian insurance products that KBIS offers, in addition to those developed by Carriagehouse, will ensure this going forward.”
The swoop for Carriagehouse comes on the heels of SRG’s purchase of terrorism insurance specialist Tristar Special Risks, which will be integrated into the group’s managing general agent MX.
Anderson noted earlier this month: “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.”
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