Specialist Risk Group (SRG), the London-based insurance broker, has acquired TLO Risk Services, the professional risk specialist broker, which will play an integral role in the development of SRG’s professional lines capability.
Financial details of the deal were not disclosed.
Specializing primarily in the legal sector, London-headquartered TLO provides insurance solutions to a wide range of firms and individuals that provide professional advisory services. These include barristers, law firms, arbitrators and mediators, as well as accountants, investment agents, surveyors and estate trustees.
The team at TLO has deep expertise of the professional indemnity market, which is underpinned by its highly respected contract and claims support, said SRG, noting that this means that TLO can provide tailored insurance solutions to firms of all sizes.
The acquisition of TLO enhances SRG’s professional lines offering and expands its capabilities to cater to the insurance needs of firms across a range of sectors. TLO will sit within SRG’s growing retail division, Specialist Risk Insurance Solutions (SRIS). Led by Oliver Thorne, SRIS is seeking to double in size over the next three years by pursuing an exciting acquisition and organic growth strategy.
“I am thrilled that TLO is joining Specialist Risk Group. This is another key step in the development of our professional lines offering,” commented Warren Downey, CEO of SRG Group.
“The TLO team has a great reputation in the market, bring new technical skills, and add significant expertise to our group. As we got to know Vernon, Duncan, and Michael during the acquisition process, it became clear that they would be a perfect cultural fit at SRG, and I look forward to working together on the next stage of our journey,” Downey added.
“I take great pride in the team and capability that we have built at TLO and am looking forward to our next chapter as part of Specialist Risk Group. We quickly recognised how aligned both our businesses were from a people and culture perspective. SRG’s commitment to investing in its people, training and being the home of specialists will be a big plus for our ambitious team moving forward,” said Vernon Taylor, TLO director.
Source: Specialist Risk Group
Topics Mergers & Acquisitions Agencies
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