UK-based Specialist Risk Group acquires MGA Capulus car fleet

Specialist Risk Group (SRG), the London-based insurance intermediary, has announced the acquisition of Capulus, a general agent specializing in motor fleet management (MGA).

Financial details of the transaction were not disclosed.

Based in Wales, Capulus’ team of 21 colleagues will join SRG’s MGA pillar, MX, further enhancing SRG’s car fleet capabilities across its Retail, Wholesale and Underwriting pillars. Capulus is a highly regarded specialist in the fleet sector with a strong reputation for providing bespoke solutions and exceptional service to UK broker partners, SRG said.

This acquisition complements SRG’s fleet underwriting expertise and positions MX as a major player in the UK and Ireland, with specializations covering fleet, property and casualty.

“It is great to welcome Capulus to Specialist Risk Group. Darren, Kevin and their team have built an incredibly well run and profitable business and I really enjoyed getting to know them throughout the acquisition process. The culture and approach to the business is a natural fit with ours,” said Lee Anderson, SRG Group Deputy CEO.

“This partnership is a key milestone in our journey to bring together like-minded teams committed to providing exceptional service and support to our broker partners in the UK and Ireland. The integration of Capulus into MX will strengthen our shared culture of excellence and ensure that their customers continue to receive the high level of service they expect, now enhanced by SRG’s broader capabilities and resources,” continued Anderson.

Darren Ovenden and Kevin Smith, Capulus directors, commented:

“This partnership will accelerate our growth and enable us to offer even more robust solutions to our UK broker partners. We look forward to starting this journey with SRG and contributing to their continued success in the fleet market.”

Source: Specialist Risk Group (SRG)

TOPICS
Wholesale M&A Insurance