Insurance intermediary Specialist Risk Group (SRG) has announced its acquisition of NW Re, a specialist reinsurance firm.
Founded in 2020 by industry professionals Neil Wallis, Neil Walker, and Tallis Kemp, NW Re focuses on property facultative reinsurance and excess of loss insurance for sectors including retail, manufacturing, real estate, and leisure.
The NW Re team will integrate with SRG’s underwriting division, MX, to expand SRG’s portfolio of specialist underwriting services for broker partners.
SRG says that it sees NW Re’s experience in UK property reinsurance as a valuable addition to MX’s capabilities. The acquisition aligns with SRG’s broader goal of offering a full range of specialised underwriting solutions tailored for brokers and their clients, reinforcing SRG’s commitment to the reinsurance market.
Lee Anderson (pictured above), group deputy CEO of SRG, noted that the acquisition is a significant step in growing MX.
“The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients. There is no doubt that the NW Re team will add significant value to MX’s capability as we continue to expand our specialisms and deliver even more value for our broker partners,” Anderson said.
Neil Wallis, co-founder of NW Re, expressed enthusiasm about joining SRG and collaborating with the MX team. He stated that the partnership with SRG would help NW Re expand its reach in the UK market while continuing to provide tailored reinsurance solutions, supporting NW Re’s commitment to specialty insurance alongside SRG’s resources.
What are your thoughts on this story? Please feel free to share your comments below.
