Specialist Risk Group (SRG), the London-based insurance intermediary, announced it will acquire the assets of Ecclesia Group in The Netherlands and Belgium – a move that will see seven businesses and 700 new colleagues across the two countries join SRG.
Financial details of the transaction were not disclosed.
Ecclesia Group is Germany’s largest insurance broker for companies and institutions. Renowned for its expertise in industrial and specialist insurance solutions, Ecclesia delivers innovative risk solutions across Europe, placing approximately €3 billion per annum into the global insurance markets.
SRG said the acquisition marks a significant step in its international growth strategy and its first in mainland Europe, following its launch in Asia Pacific in 2024. Last year, SRG announced 12 acquisitions and also completed a round of refinancing, welcoming Warburg Pincus and Temasek as majority shareholders.
In addition to the acquisition, Ecclesia Group will join Warburg Pincus and Temasek as shareholders of SRG. This unique investment structure establishes a long-term partnership between SRG and Ecclesia Group, allowing both organizations to collaborate strategically while setting their sights on growth opportunities in Europe and beyond.
As part of the partnership, Ecclesia Group CEO Jochen Körner will join the SRG board as a non-executive director, bringing his extensive expertise to support SRG in its next chapter.
“This transformative partnership is a pivotal moment for SRG as we continue to expand our capabilities and reach. Welcoming 700 new colleagues across Europe doubles our headcount, marking a significant step in our international expansion and further enriching our specialist capabilities,” according to Warren Downey, group CEO of SRG.
“We are delighted to enter into this unique partnership with SRG, a business that shares our dedication to specialist expertise and client service,” commented Körner. “This partnership allows us to focus on strengthening our position in the German market while our international assets contribute to SRG’s international growth journey.”
Source: Specialist Risk Group
Topics
Mergers & Acquisitions
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