Insurance intermediary Specialist Risk Group has acquired Tristar Special Risks, which specialises in terrorism insurance and supports broker partners across the UK through coverage for commercial and residential risks including political and religious properties.

SRG says the acquisition continues the build out of its MGA MX, which was launched in December 2021, adding it is part of the firm’s strategy to develop expertise across specialist areas.

Lee Anderson, deputy CEO of SRG Group, said: “We first engaged with James and the Tristar team at the SRG Market Briefing in January 2020. It was clear at the time that both businesses shared the same ambitions and were culturally aligned. Today marks the moment when we join forces and look forward to an exciting future working together.

“Tristar Special Risks is a great example of what SRG looks for in the ideal team and business. They have deep expertise and credibility in their specialist area, and I know that they will go from strength to strength from being part of SRG.”

James Woolerton, managing director at Tristar Special Risks, added: “Joining Specialist Risk Group marks a significant milestone for Tristar Special Risks and brings exciting opportunities for our broker partners.

“With SRG’s infrastructure and market presence, we look forward to improving all aspects of our offerings; continuing to provide best in market terrorism insurance solutions and providing the unique and market-leading levels of innovation, flexibility, collaboration and expertise our brokers value so highly.”

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