Acquisition of Tristar Special Risks, a terrorism insurance MGA by Specialist Risk Group

BDO has provided financial, tax and regulatory due diligence on the acquisition of Tristar Special Risk Limited by Specialist Risk Group.

Specialist Risk Group (SRG), a fast growing, UK insurance intermediary backed by Warburg Pincus and Temasek has acquired Tristar Special Risks Limited a UK insurance Managing General Agent (MGA) specialising in the placement of terrorism cover.

The acquisition continues the growth and expansion of SRG's MGA, MX, which the Group launched in December 2021 and further supports SRG with its strategic focus on the development of expertise in specialist areas of the insurance market.
 

"The BDO team are a trusted advisor to SRG, supporting us on a number of previous acquisitions. BDO's financial, tax and regulatory teams provided valuable insight and support during the transaction, producing high quality and focused deliverables which demonstrated their expertise in the insurance sector. We look forward to working with the BDO team on future transactions."

Richard Bettles, M&A, SRG

The BDO project team included:
Rahoel Patel, Kyri Antoniandes, Calum Abbott, Daniel Anderson (Financial due diligence)
Thomas To, James Boyd, Matthew Keefe (Tax)
Richard Barnwell and Lucy Gallagher (Regulatory due diligence)