Specialist Risk Group (SRG) has announced plans to acquire London-based City Quarter Brokers, subject to regulatory approval, further strengthening its position in the wholesale insurance market.
City Quarter Brokers specialises in placing complex risks in the construction, engineering, and infrastructure sectors, supporting clients involved in large-scale international projects. Following completion, the firm will join SRG’s Wholesale division, which includes Miles Smith, CBC Partnership, SRI, and TUE.
This latest deal comes on the heels of SRG’s acquisition of Ecclesia’s operations in the Netherlands and Belgium, finalised earlier this year. Initially revealed in January, that transaction brought seven former Ecclesia businesses — BS&F, Concordia, Ecclesia BV, Finance & Insurance, IC Verzekeringen NV – CI Assurances SA, Sibbing, and XOLV — under the SRG umbrella. These entities form the foundation of SRG’s push into continental Europe, in line with its strategy of expanding through the integration of regionally established intermediaries.
The move highlights SRG’s momentum in a London and UK insurance market where broker consolidation remains strong, even as global insurer M&A activity slows. The capital continues to attract a high concentration of deals, with private equity playing an increasingly influential role, particularly in the managing general agent (MGA) space, which offers a flexible alternative to traditional acquisitions.
Recent headline transactions in the sector include Aviva’s £3.7 billion takeover of Direct Line Group, Brookfield’s £2.4 billion acquisition of Just Group, and Legal & General’s ongoing expansion in the pension risk transfer sector.
While insurer M&A levels have fallen to their lowest since 2009, analysts anticipate an upturn in activity driven by abundant capital, strategic diversification opportunities, and evolving regulatory landscapes across the UK and Europe.
