Specialist Risk Group acquires NW Re in expansion of underwriting capabilities

London – 5 November 2024 – Specialist Risk Group (SRG), the fast-growing specialist insurance intermediary, majority-owned by Warburg Pincus and Temasek, is pleased to announce the acquisition of specialist reinsurance firm NW Re.

This latest deal reinforces SRG’s commitment to the broker and underwriting intermediary market, by investing in specialist underwriting capability and technical expertise.

Founded in 2020 by seasoned industry experts Neil Wallis, Neil Walker, and Tallis Kemp, NW Re is a profitable and robust business which provides Property Facultative Reinsurance and Excess of Loss Insurance across a range of occupancies, including retail, manufacturing, offices, real estate, and leisure.

The team at NW Re will join forces with SRG’s underwriting pillar, MX, to support SRG’s vision of creating a comprehensive “one-stop shop” of specialist underwriting solutions for its broker partners. NW Re’s expertise and focus on disciplined, profitable underwriting in the UK property reinsurance market make it an ideal addition to MX. The team’s long-standing experience and commitment to delivering bespoke reinsurance solutions will enhance SRG’s underwriting specialisms. At the same time, this latest acquisition clearly reinforces SRG’s commitment to providing a full spectrum of specialist solutions for its broker partners and their clients.

Lee Anderson, Group Deputy CEO of Specialist Risk Group, commented:

“This deal marks yet another exciting step in the growth of our underwriting pillar, MX. The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients, there is no doubt that the NW Re team will add significant value to MX’s capability as we continue to expand our specialisms and deliver even more value for our broker partners.”

Neil Wallis, Co-Founder of NW Re, added:

“We are delighted to be joining Specialist Risk Group and to be working alongside our new colleagues at MX. From the outset, we have always maintained the goal of providing reliable, tailored reinsurance solutions in the UK market. Partnering with SRG now enables us to bring our expertise to a wider audience and to work within a group that totally shares our commitment to specialty insurance. We look forward to providing even greater value to our broker partners working in partnership with our new colleagues from SRG and the MX team.”