Specialist Risk Group Acquires Generation Underwriting From WF Risk Group
Specialist Risk Group (SRG), the London-based insurance intermediary, announced the acquisition of managing general agent Generation Underwriting, which has offices in Newcastle and Belfast, from WF Risk Group.
Financial details of the deal were not disclosed.
The business will become part of MX, SRG’s underwriting pillar, and will further accelerate the build-out of a nationwide property, liability & fleet proposition in the UK for brokers.
Generation Underwriting is a UK-based MGA that partners exclusively with brokers across the regions in the SME and mid-market space. Its diverse portfolio spans commercial combined, property owners, fleet, and contractors all risks (CAR) products, delivered through a blend of e-trade and traditional underwriting.
By joining MX, Generation Underwriting will benefit from SRG’s scale, advanced data, and distribution while preserving the entrepreneurial culture valued by regional broker partners, SRG said, explained that the acquisition complements MX’s existing appetite and will provide brokers with an expanded, and more comprehensive range of property, fleet, and liability solutions.
“Generation Underwriting epitomises the kind of specialist underwriting talent we celebrate in MX. Greg and his team bring complementary expertise in construction and property-owners’ and their values and focus on delivering for brokers across the UK make them a natural fit for MX as we continue to build a best-in-class property, fleet, and liability proposition,” commented Lee Anderson, group deputy CEO at Specialist Risk Group.
“Joining SRG’s MX pillar marks an exciting new chapter for Generation. Our philosophy has always centred on building local relationships, providing swift service and offering flexible wordings,” said Greg Wilde, managing director of Generation Underwriting. “With SRG’s investment and market reach, we can enhance these strengths for our broker partners while maintaining the same people, values and decision making agility that define our business.”
