Specialist Risk Group (SRG) has announced the acquisition of Newcastle-based managing general agent (MGA) Generation Underwriting from WF Risk Group, marking another strategic step in its ongoing expansion of regional underwriting capabilities.
As part of the transaction, Generation Underwriting will be integrated into MX, SRG’s dedicated underwriting arm. The move is set to enhance SRG’s property, liability, and fleet insurance offerings, particularly for brokers operating across the UK.
Generation Underwriting specialises in serving regional brokers within the SME and mid-market sectors. Its portfolio spans commercial combined, property owners, fleet, and contractors all risks (CAR) products, distributed through a combination of e-trade platforms and traditional underwriting channels.
The deal is the latest in a series of acquisitions by SRG aimed at strengthening its market position. Earlier this year, the group acquired Brentacre Insurance, a specialist broker with a focus on modified and performance vehicle insurance.
Last year, SRG also added R3 to its portfolio—a niche broker catering to the UK tourism sector, charities, overseas aid organisations, and the military and police. R3 was integrated into Specialist Risk Insurance Solutions (SRIS), SRG’s retail division, further enhancing the group’s capabilities in handling complex placements.
