Specialist Risk Group acquires renewal rights of London taxi insurance broker

Specialist Risk Group (SRG) has announced the acquisition of the ongoing renewal rights of Morton Insurance Brokers, a UK private hire and taxi insurance specialist since 1987.

Financial details of the transaction were not disclosed.

The acquisition strengthens SRG’s retail arm, Specialist Risk Insurance Solutions (SRIS), and enhances its offering in the UK taxi insurance market, the company said in a statement.

Based in London, Morton Insurance Brokers’ expertise in insuring private hire and taxi businesses complements SRG’s existing capabilities in the taxi sector, particularly through Cabsurance, SRIS’ specialist business focused on London black cab insurance.

“We are delighted to acquire the renewal rights of Morton Insurance Brokers, a well-respected name in the private hire and taxi insurance market,” commented Lee Anderson, deputy CEO of SRG Group, in a statement.

“This acquisition allows us to further expand our footprint in the UK taxi sector, building on the success of our Cabsurance offering. By bringing together the expertise of Morton and Cabsurance, we can offer even more comprehensive and tailored insurance solutions to taxi operators across the country, ensuring they have the protection and support they need,” added Anderson.

“We are delighted to be joining forces with Specialist Risk Group, a company that shares our commitment to providing exceptional service and specialist expertise,” said Adrian Morton, managing director of Morton Insurance Brokers. “This marks an important step for our customers as we look forward to working with the Cabsurance team to develop a leading taxi proposition for UK fleets and drivers.”

Source: Specialist Risk Group (SRG)

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M&A Agents London