Specialist Risk Group acquires Square Mile Broking
Specialist Risk Investments Ltd (“SRIL” or “Specialist Risk”), the specialist insurance intermediary group that owns Miles Smith and The Underwriting Exchange, is pleased to announce that, subject to regulatory approval, it has acquired Square Mile Broking Ltd (“Square Mile”), the multi-award winning chartered insurance brokers.
The acquisition deepens existing and adds new specialisms to the Specialist Risk offering in areas including construction, waste and rail.
Square Mile places approximately £20m of premium into the UK insurance market and is a specialist in construction, waste and environmental and rail risks as well as serving clients in the manufacturing, professional services and food and drink industries.
The Directors of Square Mile said, “This is a really exciting opportunity for us. Specialist Risk were the standout fit for our business to take it to the next level. As Directors, we take great pride in the business we have built over the last 12 years and are looking forward to working with Specialist Risk to further enhance our market leading customer service proposition and growth and to provide development opportunities for our team.”
Warren Downey, Group CEO of SRIL said, “We have known the team at Square Mile for a long time and are great admirers of their approach to their clients and their specialist expertise. At Specialist Risk we are known for doing difficult things well and the same can definitely be said for Square Mile, with over 60% of their business serving challenging to insure risk classes. They have an excellent reputation within the insurance broking industry and we are looking forward to working with them. We are delighted to welcome the team as we continue the strategic expansion of our group supported by our owner Pollen Street Capital.”