Specialist Risk Group (SRG), a fast-growing specialist insurance intermediary, majority-owned by Warburg Pincus and Temasek, has announced its launch in Asia Pacific, marking its expansion into the region.
Based in Singapore, SRG will follow closely the successful UK business model it is known for—a specialist, people, and culture-focused insurance group with deep expertise in complex risk solutions.
As the first part of its ambitious expansion plans, SRG has, through its newly established subsidiary in Singapore, signed a definitive agreement to acquire HL Suntek Insurance Brokers, a leading Singapore-based insurance broker, subject to customary closing conditions, including the necessary regulatory approvals being obtained.
Regional presence
This acquisition is a key move in SRG’s strategy to build a strong regional presence, leveraging local expertise and a client-centric approach to serve local markets.
Mr Warren Downey, SRG Group CEO, said, “The launch of SRG in Asia Pacific and the acquisition of HL Suntek is a pivotal moment in SRG’s journey of international growth.
He added, “We have great plans for building a business in Asia for Asia which is very much focused on local talent and local capability.”
To support the growth and strategic direction of SRG in Asia Pacific, SRG has appointed Mr Chua Eng Leong as non-executive director of its newly established subsidiary in Singapore.
This expansion into Asia Pacific underscores SRG’s broader international strategy as it continues to grow its presence in key global markets, east of London, while maintaining its commitment to being a people and culture focussed, specialist insurance group.