SRG buys Generation Underwriting
Financial terms of the deal remain undisclosed.
Generation Underwriting is known for its partnerships with brokers in the SME and mid-market segments, offering a range of products including commercial combined, property owners, fleet, and contractors all risks (CAR).
The acquisition allows Generation Underwriting to tap into SRG's resources, including data analytics and broader distribution channels.
Generation Underwriting managing director Greg Wilde said: '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.
'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.'
Following the acquisition, Generation Underwriting will be integrated into MX, the underwriting division of SRG.
This integration is expected to enhance MX's existing property, liability & fleet offerings and provide a more service to brokers nationwide.
SRG Group deputy CEO Lee Anderson said: '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.
'We're delighted to welcome them to SRG and to partner with Richard and WF Risk Group on a seamless transition.'
In December 2024, SRG acquired R3, a specialist insurance broker catering to sectors such as UK tourism, charities, overseas aid, and security services for the UK military and police.
"SRG buys Generation Underwriting " was originally created and published by Life Insurance International, a GlobalData owned brand.
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