UK-based insurance coverage firm Specialist Threat Group (SRG) has agreed to accumulate specialist insurance coverage dealer Fleet and Business for an undisclosed sum.
The acquisition, which marks SRG’s first deal this 12 months, awaits regulatory clearance.
It’s stated to strengthen SRG’s business motor experience.
Based in 2011, Fleet and Business operates throughout the UK, serving a number of industries, trades and companies.
The Oxfordshire-based dealer will turn out to be a part of SRG’s retail division, known as Specialist Threat Insurance coverage Options (SRIS), with Tony McLeman and Tom West remaining on the helm.
The duo will work to sketch out an ‘bold’ natural and strategic progress technique over the approaching years.
SRG deputy CEO Lee Anderson stated: “Fleet and Business is a pacesetter in its area with a tradition very a lot aligned to ours, which can add large worth to our present motor functionality.
“They’re an bold, forward-thinking enterprise and we’re wanting ahead to working collectively sooner or later. On the again of an impressive 12 months of natural progress in 2022, SRIS is in an incredible place and poised to go from energy to energy, and I do know the Fleet and Business group will play a big contribution to attaining our targets.”
Fleet and Business firm director Tony McLeman stated: “Immediately marks the beginning of an thrilling new chapter for us all at Fleet and Business. Specialist Threat Group is a pure accomplice for us as we enter our subsequent section of progress. It shares the identical precept of being a high-growth, individuals and tradition focussed enterprise.”
In December 2021, SRG launched MX Underwriting to scale managing common company operations within the UK and Europe.