Specialist Risk Group (SRG) has today announced its acquisition of the mid-market commercial broker Consort Insurance.
The deal, which is subject to regulatory approval, will see Consort MD Danny Harwood and his team join Specialist Risk Insurance Solutions (SRIS), led by Oliver Thorne who was announced as its MD in October 2022.
Witham, Essex-based Consort serves a range of industries including construction, manufacturing, healthcare and entertainment as a specialist broker which also offers exclusive specialist insurance for organisations with exposure to fire risk through its Protection and Detection (PaD) product.
In a Press release, SRG noted that its acquisition of Consort will continue to expand SRIS’s mid-market specialism, with the Consort team helping it develop both in the UK and internationally. The acquisition continues SRIS’s ambitious growth strategy, which has seen the business double in size in the last three years.
Commenting on the acquisition, Lee Anderson, SRG deputy CEO, said: “I am absolutely thrilled that Danny and the Consort team have chosen to join us to continue to develop our fast-growing retail business, Specialist Risk Insurance Solutions. The Consort team will add tremendous value to our mid-market capability, and I look forward to working together to continue to develop this critical part of our business.
“I have asked Danny to join the SRIS leadership team and have no doubt that he will add tremendous value in this setting.”
Hardwood added that throughout the deal process, it became clear Consort and SRG had shared ambitions of growing organically, within a high-performing and rewarding culture.
“I am passionate about the continued growth for the business within the mid-market space, and with the support of SRG, I look forward to enhancing our service and claims proposition and expanding across the UK and internationally,” he said. “I would like to thank my team for all their hard work and relish the future as a Specialist Risk Group company.”
What are your thoughts on this deal? Please feel free to share your comments below.
