Temasek, a global investment company headquartered in Singapore and Warburg Pincus, a global growth investor, have completed a transaction to acquire the majority of shares in Specialist Risk Group (SRG), a specialist insurance intermediary.
In a statement yesterday, London-headquartered SRG said that with the necessary regulatory approvals now received, this strategic partnership marks a pivotal moment in SRG’s journey as it embarks on the next phase of its growth strategy with renewed financial backing and high-level strategic support from its new partners.
The statement also said, “The partnership with Warburg Pincus and Temasek underscores the strength of SRG’s business model and the confidence of these leading global investors in SRG’s vision and potential. The additional firepower from this investment will enable SRG to accelerate its growth, expand its specialist capabilities and continue to deliver exceptional value to its clients across complex risk sectors. This marks a significant moment in Chapter 2 of the SRG story which will be marked by internationalising the business.
SRG group CEO Warren Downey siad, “Our vision is to continue our people and culture obsession and specialist orientation whilst expanding internationally. With the support of Warburg Pincus and Temasek, we are uniquely positioned for the next chapter of the SRG story.”
SRG is an insurance intermediary bridging retail, wholesale, international and underwriting disciplines. The business focusses on specialisms in which it can take a leading market position and numbers 640 staff and places premiums of GBP1bn ($1.34bn) into global insurance markets.