IRS STRATEGIC PARTNERSHIPS

Acquisition News

Specialist Risk Group (SRG) announces three strategic partnerships for new acquisition Insolvency Risk Services (IRS) in its plan to clinch top spot in the post Covid Insolvency arena

SRG, the fast-growing specialist insurance broker who earlier this week announced their agreement to acquire Insolvency Risk Services (IRS) subject to regulatory approval, is pleased to announce the first three strategic partnerships to complement the IRS offering to the insolvency industry. 

IRS serves the needs of accounting firms and insolvency practitioners across the UK and Ireland as they provide insurance support for companies in administration. These partnerships expand the IRS offering making it truly unique.  

MS Amlin – insurance capacity partner

MS Amlin, a leading global specialty insurer, have agreed with SRG to provide expanded capacity for the provision of insurance to companies in administration. The long-term agreement is exclusive to IRS and is given on a delegated authority basis.  
 
This agreement positions IRS with one of the most substantial ‘open cover’ and bond offerings in the industry. The delegated authority arrangement speeds up response times, delivering appropriate cover on demand and with great efficiency. 

Mark Clements, MS Amlin Chief Underwriting Officer – Performance Director Specialty Insurance, MS Amlin Underwriting Ltd. said, “We are pleased to continue to provide market leading specialist insurance capacity for companies in administration through Insolvency Risk Services. Our trust in the specialists at IRS under the leadership of Specialist Risk Group is a very solid foundation for the next stage of our work together.” 

Aryza – technology acceleration partner 

 SRG is partnering with Aryza, the leading provider of case management software (including Vision Blue) for corporate and personal insolvency practitioners in the UK and Ireland. The partnership will work to better connect the provision of insurance to mutual customers.  

This agreement has the potential to substantially modernise and digitise the efficient delivery of insurance solutions and represents a unique differentiator in the market to both firms. 

Chris Carter, Aryza Chief Financial Officer said, “We look forward to working with SRG to pioneer new routes to market in the insolvency sector.” 

LIVA– M&A insurance partner 

 SRG will work closely with LIVA Partners, a leading independent specialist insurance broker in the M&A sector. LIVA provides a range of M&A insurance services, including: Warranty and Indemnity, Tax, Title, Environmental, Litigation, Intellectual Property and Contingent Risk insurance.  

Through coordinating LIVA and IRS offerings to the insolvency sector accountants, insolvency practitioners and their clients can be supported for all their M&A insurance needs in particular as assets are transferred and new ventures are launched. 

Alan Hands, Managing Director at LIVA, said: “We are delighted to partner with Specialist Risk Group following their acquisition of Insolvency Risk Services. Together we offer a complete suite of services to actors in this segment and look forward to working together and with our mutual clients.” 

Warren Downey, CEO of SRG, said: Hot on the heels of our announcement regarding the acquisition of IRS we are very pleased to develop our unique offering to this important segment through these strategic partnerships. I would like to thank MS Amlin, Aryza and LIVA for their commitment and foresight.” 

Adam Loveitt, IRS Managing Director, commentedThese three partnerships expand the quality and depth of our offering to companies in administration and their advisors. We look forward to delivering an excellent and expanded service for our clients in the coming days. 

For further information contact:  
Annie Wakeman – Tel: 07850 8666 75