Tysers and Specialist Risk Group (SRG) have announced an agreement for Tysers’ credit & political Risk re/insurance team to join SRG, following a strategic review by Tysers.
The team, led by John Lentaigne, is expected to transition to SRG over time. Both companies are working together to ensure that clients continue to receive uninterrupted service, with the existing Tysers team handling client accounts until each client agrees to the transition.
Under the terms of the agreement, it is anticipated that all existing policies, ongoing transactions, and claims will eventually be transferred to SRG. Both firms have pledged to ensure a smooth and efficient transition for clients.
Tysers CEO Tom Wilson (pictured) stated the decision to move away from this specialism was facilitated by SRG’s willingness to accommodate the team and invest in its future.
“All clients are in the process of being contacted directly and reassured of our joint effort to provide continuity and minimum disruption,” Wilson said.
Warren Downey, group CEO of SRG, emphasised the move being part of SRG's strategy to build a platform for specialist talent.
“John and his team have a first-class reputation in the market, and we are proud to welcome them to SRG,” Downey added.
In August, AUB Group, the parent company of Tysers, reported a net profit after tax of AU$137.1 million for the fiscal year 2024, marking a significant increase from AU$65.3 million in fiscal 2023. The group’s underlying net profit after tax rose to AU$171 million, up from AU$129.1 million in the previous year.
AUB Group’s CEO and managing director, Michael Emmett, described the year as a milestone, noting that the company’s first full year of Tysers ownership, coupled with international investments and growth in its managing agencies division, contributed to strong results.
“We have rapidly expanded our scale and presence as a retail broker in the UK to leverage our wholesale capabilities and build on our successful retail experiences in Australia and New Zealand,” Emmett said. “With our talented team and diverse portfolio of businesses, we are well-positioned to capitalise on the many opportunities that lie ahead.”
