Specialist Risk hires team of 16 from AFL Insurance

Private equity-backed broker Specialist Risk Group (SRG) has further boosted the acquisition spree it has been on by hiring a team of 16 from AFL Insurance Brokers.

Led by Jonathan Bines, the deal represents SRG’s first London market team move of the year and is aimed at further expansion of their specialist insurance and reinsurance broking activities beyond the UK.

Bines, who previously held leadership positions at JLT and Integro, has been CEO at AFL since 2019. The incoming team, which includes Chris Cavani, David Thomas, Sarah Stephen, Neil Cullis and Chris Gagg, has particular expertise in US, Canadian and Australian specialist wholesale, binding authorities and London market facultative reinsurance.

The broker has also made a number of acquisitions in the first quarter of the year including KBIS, GB Underwriting, The Channel Partnership, Emrose Insurance Brokers and CLS Risk Solutions.

Warren Downey, SRG Group CEO said: “I am thrilled that Jonathan and his colleagues are joining SRG as we expand our specialist team which now numbers more than 400.

“The incoming team will be welcomed with open arms to SRG and I am looking forward to working with them as we expand our international reach and relevance. Jonathan is an experienced leader who will bring great value to the SRG Executive Committee as he leads this endeavour.

“Ever mindful of client service and disruption we are pleased to have agreed an orderly transfer with AFL.”

Bines said: “We are delighted to be joining Specialist Risk Group at such an exciting stage of their growth journey. We have been working closely with the SRG team to ensure a smooth transition and I am confident this will be achieved in the coming weeks.

“We have a fantastic opportunity to build on the offering we have created to date and to provide even better solutions for our producers and clients who now more than ever need specialist and expert advice which is delivered with energy, passion, and determination. I am excited to be joining SRG’s leadership team as we extend our international ambitions.”

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