Specialist Risk Group Acquires Renewal Rights of London-Based Taxi Insurance Broker

Specialist Risk Group (SRG) announced the acquisition of the ongoing renewal rights of Morton Insurance Brokers, a specialist in private hire and taxi insurance across the UK since 1987.

Financial details of the transaction were not disclosed.

The acquisition strengthens SRG’s retail pillar, Specialist Risk Insurance Solutions (SRIS), and enhances its offering in the UK taxi insurance market, the company said in a statement.

Based in London, Morton Insurance Brokers’ expertise in the insurance of private hire and taxi businesses complements SRG’s existing capabilities in the taxi sector, particularly through Cabsurance, SRIS’s specialist business that is focused on London black cab insurance.

“We are thrilled to acquire the renewal rights of Morton Insurance Brokers, a well-respected name in the private hire and taxi insurance market,” commented Lee Anderson, SRG group deputy CEO, in a statement.

“This acquisition allows us to further expand our footprint in the UK taxi sector, building on the success of our Cabsurance offering. By bringing together the expertise of Morton and Cabsurance, we can provide even more comprehensive and tailored insurance solutions to taxi operators across the country, ensuring they have the protection and support they need,” Anderson added.

“We are excited to join forces with Specialist Risk Group, a company that shares our commitment to providing exceptional service and specialist expertise,” according to Adrian Morton, managing director of Morton Insurance Brokers. “This marks an important step for our clients, as we look forward to working with the Cabsurance team to develop a leading taxi proposition for fleets and drivers across the UK.”

Source: Specialist Risk Group (SRG)

Topics Mergers & Acquisitions Agencies London