UK Broker Specialist Risk Group Acquires KBIS British Equestrian Insurance

Specialist Risk Group (SRG), a London-based specialist insurance broker, announced it has acquired KBIS British Equestrian Insurance, a well-established broker within the equestrian market.

Financial details of the transaction were not disclosed.

Purchased by Guy and Liz Prest in 1991, Newbury, England-based KBIS specializes in a wide product range for the equestrian, including horse insurance, property insurance, horsebox and trailer insurance, and cover for equestrian businesses. Other product offerings include leisure horse, high value sports horses, horsebox and trailer insurance, property insurance, event and show insurance, standalone personal accident cover as well as specialist liability offer cover for private individuals, businesses and events and shows.

“We are delighted to welcome KBIS to SRG. They have serviced the equestrian industry for many years and bring another specialist capability to our expanding group. KBIS’s sector expertise is exactly what we want to develop within the group, as we continue in our pursuit to become the natural home for specialist people and businesses,” commented Warren Downey, group CEO of London-headquartered SRG.

“SRG are an excellent fit for KBIS, both culturally and strategically. We are proud of the reputation KBIS have built within the equestrian market and are looking forward to being able to further enhance our offering as part of the group. We are particularly excited to expand our distribution capabilities through the group’s Irish and EU business, TUE,” said Guy Prest, managing director of KBIS.

KBIS will sit within SRG’s rapidly expanding retail business, Specialist Risk Insurance Solutions (SRIS). SRIS was established in July 2020, through the merger of Square Mile Broking, Miles Smith Insurance Solutions, David Codling and Associates and the TUE Special Risk team.

In July 2020, Specialist Risk Group announced it had agreed to acquire Insolvency Risk Services (IRS), a deal which completed in October. IRS also operate as part of Specialist Risk Insurance Solutions.

Lee Anderson, Managing Director of SRIS commented: “2020 was an exciting year for SRIS. Following the launch of SRIS in July, we are delighted to add IRS and KBIS to our growing business. We are pleased with the progress we made in 2020 and are looking forward to our momentum continuing into 2021 and beyond.”

SRG announced in December 2020 that it signed a definitive agreement to be acquired by HGGC, the Palo Alto, Calif.-based middle-market private equity firm. This deal is subject to regulatory approval.

Source: Specialist Risk Group (SRG)