Specialist Risk Group acquires property MGA CLS Risk

Insurance intermediary Specialist Risk Group (SRG) has agreed to acquire CLS Risk Solutions (CLS RS), a managing general agent (MGA) specialising in renewables, M&A, property development and environmental markets.

CLS RS offers a range of insurance solutions in the UK and across Europe through the entire property lifecycle. Its suite of products includes legal indemnities, structural indemnities, rights of light indemnities, environmental indemnities and judicial review/planning law indemnities.

CLS RS is SRG’s fourth acquisition in 2021 so far. It will sit within Specialist Risk Underwriting Solutions, joining the company's existing MGAs GB Underwriting and LIME.

Warren Downey, group chief executive of SRG said: “I am thrilled CLS Risk Solutions are joining SRG at such an exciting time in our growth journey. The team have a deeply specialist offering, which perfectly complements our goal to create a group of specialist businesses. I am looking forward to working with Rob and the team to expand CLS RS’s international capabilities and continue to serve their broker base with access to highly specialist property solutions.”

Rob Best, CLS RS managing director, commented: “The whole team at CLS RS is excited to be joining SRG at such an important moment for both businesses. We both share the same values, ambition and commitment to providing an outstanding service to our clients. The CLS Group has given us a great start and the sale to SRG provides our business the platform and resources to continue to unlock career development opportunities for our team. What’s more joining forces with SRG creates excellent property development and transaction opportunities for our clients.”

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.