Specialist Risk Group gas acquired reinsurance firm NW Re, which was founded in 2020 by Neil Wallis, Neil Walker, and Tallis Kemp. It provides property facultative reinsurance and excess of loss insurance across a range of sectors including retail, manufacturing, offices, real estate and leisure. The NW Re team will join SRG’s underwriting pillar, MX.

Lee Anderson, group deputy CEO of SRG, said: “This deal marks yet another exciting step in the growth of our underwriting pillar, MX. The NW Re team has built a brilliant business that perfectly complements our focus on providing specialist solutions for brokers and their clients.”

Neil Wallis, co-founder of NW Re, added: “From the outset, we have always maintained the goal of providing reliable, tailored insurance solutions in the UK market. Partnering with SRG now enables us to bring our expertise to a wider audience and to work within a group that totally shares our commitment to specialty insurance.”