Insurance firm set to expand with takeover

An insurance intermediary is set to expand with a takeover.

Specialist Risk Group (SRG) has agreed a deal to buy Kennett Insurance Brokers & Risk Management.

Bosses say the deal – subject to regulatory approval – will “reinforce SRG’s long-term commitment to investing in regional capability”.

They add Hessle and Leeds-based Kennett, which operates across sectors including construction, manufacturing, property and the motor trade, will join London-based SRG’s UK retail pillar, with clients continuing to be served by its Yorkshire teams.

Lee Anderson, SRG group deputy chief executive, said: “The acquisition of Kennett is another important step in the continued development of our UK retail business in the North of England.

“We are deliberately building scale rooted in specialism, strong regional presence and high-quality teams.”

Daniel Schofield, Kennett managing director, added: “Joining SRG marks an exciting next chapter.

“SRG’s commitment to people and long-term growth makes it a natural home for our business and clients.”

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