Specialist Risk Group (SRG), the UK-based specialist insurance intermediary, has entered the Australian market as part of its ongoing global expansion.
The group has set up operations in Sydney and Melbourne, with more locations expected to be added later in the year.
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The new business will initially target the entertainment, media and sport sectors, with plans to build out additional niche lines over time.
The company said the Australian operations are intended to blend its international specialist expertise with a locally based team familiar with domestic market conditions, targeting mid-market clients with bespoke insurance solutions.
SRG managing director for Australia Laurence Basell said: “There is a real opportunity to do things differently here, combining strong local relationships with the international strength of the wider SRG platform, supported by technology that makes it easier to work with us and delivers a straightforward, high-quality experience for clients and partners.”
The new unit will be linked to SRG’s existing platforms in London, Singapore and Europe, while retaining a locally oriented service model for Australian customers and partners.
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By GlobalDataSRG group CEO Warren Downey described the move into Australia as “a natural next step in the international strategy we have been executing over recent years, following our expansion into Asia-Pacific and the development of our European platform”.
“Our ambition is to build a genuinely international specialist insurance group, focused on markets where deep expertise, strong relationships and access to international capability really matter,” he added.
SRG is backed by Warburg Pincus and Temasek, which took majority ownership of the company in 2024.
The move into Australia follows SRG’s announcement in October 2024 of its expansion into the Asia-Pacific region with the establishment of a subsidiary in Singapore and a deal to acquire local broker HL Suntek Insurance Brokers.
As part of that regional build-out, SRG appointed Collin Yap as Asia-Pacific CEO. Yap has more than 20 years of leadership experience in the sector, including previous roles as CEO of Marsh McLennan Singapore and JLT Singapore.
