Specialist Risk Group (SRG) has acquired insurance solution provider TLO Risk Services.
Financial details of the deal have not been disclosed by either company.
With a focus on the legal sector, TLO offers insurance solutions to companies and providers of professional advisory services such as arbitrators, barristers, surveyors and estate trustees.
TLO’s team is claimed to have expertise in the professional indemnity market, which is underpinned by its contract and claims support.
The deal bolsters SRG’s professional lines portfolio and capabilities to cater to the insurance requirements of companies across an array of sectors.
TLO will become a part of SRG’s Specialist Risk Insurance Solutions (SRIS) division.
Led by Oliver Thorne, SRIS aims to double in size over the next three years via acquisitions and an organic growth strategy.
SRG Group CEO Warren Downey said: “I am thrilled that TLO is joining Specialist Risk Group. This is another key step in the development of our professional lines offering. The TLO team has a great reputation in the market, brings new technical skills, and adds significant expertise to our group.”
TLO director Vernon Taylor said: “I take great pride in the team and capability that we have built at TLO and am looking forward to our next chapter as part of Specialist Risk Group. We quickly recognised how aligned both our businesses were from a people and culture perspective.
“SRG’s commitment to investing in its people, training and being the home of specialists will be a big plus for our ambitious team moving forward.”
In March 2022, SRG announced the acquisition of commercial and motor trade broker Hamilton Leigh.
In 2021, SRG acquired CLS Risk Solutions, a risk solution provider for real estate development projects and transactions.