MS Amlin sells Insolvency Risk Services to UK broker

Specialist insurance broker SRG has entered into an agreement to acquire Insolvency Risk Services (IRS), a division of MS Amlin.

The transaction will mark IRS's return to the insurance broking market after several years as a division of MS Amlin.

IRS provides insolvent companies and administrators across the UK and Ireland insurance support.

As part of the acquisition, MS Amlin will provide SRG with ongoing dedicated capacity for these risk exposures.

SRG has previously acquired Miles Smith, The Underwriting Exchange, Square Mile Broking and David Codling and Associates.

Warren Downey, CEO of SRG, said: “We are delighted to welcome IRS to the Specialist Risk Group. As a specialist broker known for doing difficult things well, we have been keen to enter the insolvency market for some time and we have found the right partner in IRS."

Adam Loveitt, IRS managing director, commented: “We are very excited to be joining Specialist Risk Group and look forward to working together to serve the business community at this challenging time, and for many years to come.”

Ian Gascoigne, Pollen Street Capital Partner, commented: “IRS is an exciting addition to the SRG’s specialist risk product suite, further enhancing SRG’s position as one of the most dynamic and fast-growing insurance distribution platforms in the European market.”