SRG Acquires Specialist Broker R3

Specialist Risk Group (SRG), backed by Warburg Pincus and Temasek, has acquired R3, marking its 11th acquisition in 2024. R3 specializes in providing tailored insurance solutions across sectors such as UK tourism, charities, and military services, and will now enhance SRG’s retail division, Specialist Risk Insurance Solutions (SRIS). This acquisition is aimed at bolstering SRG's ability to manage complex risks and expand its specialized offerings. Lee Anderson, SRG's group deputy CEO, expressed enthusiasm about the partnership, highlighting R3's extensive sector expertise and commitment to client service. Rob Proudman from R3 echoed this sentiment, noting the opportunity to collaborate within SRG's established framework for specialist teams. Financial details of the transaction were not disclosed.