UK Broker Specialist Risk Group Buys Trade Credit Specialist, The Channel Partnership

Specialist Risk Group (SRG), a London-based specialist insurance broker, has announced the acquisition of a UK trade credit specialist, The Channel Partnership.

Financial details of the deal were not disclosed.

The Channel Partnership, founded in 1992, provides clients with expert advice and solutions to manage their trade credit risks. This specialist area of insurance is of particular value in the current economic climate, enabling businesses to continue to trade confidently on credit terms whether with their UK-based or export customers.

Based in Bristol, The Channel Partnership’s senior team and staff will join SRG’s rapidly expanding retail business, Specialist Risk Insurance Solutions (SRIS). Tom Rolfe, director at The Channel Partnership, will report to Lee Anderson, managing director of SRIS.

Following the December announcement of SRG’s new majority shareholder, HGGC, SRG also made two additional acquisitions in January. On Jan. 5, SRG purchased Newbury, England-based broker KBIS British Equestrian Insurance, and on Jan. 14, SRG bought GB Underwriting, a managing general agent that provides property and liability solutions for brokers whose clients operate within the building, construction and associated specialist trades.

Commenting on SRG’s latest acquisition, Anderson, said: “The Channel Partnership makes an excellent addition to the specialist credentials of SRIS and is further evidence of the support we give to our core client base, particularly in the non-service sectors such as manufacturing and construction.”

“The group will be a fantastic and natural home for our specialist business to grow and develop,” said Tom Rolfe, director at The Channel Partnership. “During the sale process, I was particularly attracted to the cultural alignment of the two organizations and I am looking forward to our next steps together as we continue to support clients with their trade credit risks.”

Specialist Risk Group (SRG) is an integrated group of insurance intermediaries arranging specialist insurance for corporates and individuals operating in the UK and internationally. The group serves over 42,000 end policyholders across multiple lines of business and specialises in creating solutions to challenging risk transfer questions. SRG is owned by its management team and HGGC (subject to regulatory approval), a middle-market private equity firm based in Palo Alto, Calif.

Source: Specialist Risk Group (SRG)