The acquisition spree from Specialist Risk Group (SRG) has continued today with a swoop for TLO Risk Services.
Described as a “leading firm of professional risk specialists”, TLO provides insurance solutions to a range of firms, alongside advisory services. Among those it impacts are law firms, barristers, investment agents, estate trustees, arbitrators and accountants. It aims to offered tailored professional indemnity solutions to all of these groups – with SRG seeing it as playing a key role in the expansion of its own capabilities.
“I am thrilled that TLO is joining Specialist Risk Group,” said SRG CEO Warren Downey. “This is another key step in the development of our professional lines offering. 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.”
TLO will now sit within the growing retail division at SRG, known as Specialist Risk Insurance Solutions (SRIS). Led by Oliver Thorne, it hopes to double in size during the next three years.
Meanwhile TLO director Vernon Taylor expressed his own enthusiasm at the deal believing there is strong alignment “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,” he said.
What do you think of the spate of mergers and acquisitions in the UK insurance industry? Leave a comment below with your thoughts.
