Terrorism and political violence focused MGA Tristar Special Risks has been bought by Specialist Risk Group.


Specialist Risk Group (SRG) has announced the acquisition of Tristar Special Risks.

Tristar Special Risks is a managing general agent (MGA focused on political violence and terrorism (PVT) insurance.

The acquisition continues SRG’s build out of MX, the MGA it launched in December 2021.

SRG said Tristar supports broker partners across the UK through its coverage for commercial and residential risks, including political and religious properties.

Its acquisition demonstrates its “strategy to develop deep expertise across specialist areas”, SRG said.

“We first engaged with James and the Tristar team at the SRG Market Briefing in January 2020,” said Lee Anderson, SRG group deputy CEO.

“It was clear at the time that both businesses shared the same ambitions and were culturally aligned. Today marks the moment when we join forces and look forward to an exciting future working together,” he said.

“Tristar Special Risks is a great example of what SRG looks for in the ideal team and business. They have deep expertise and credibility in their specialist area, and I know that they will go from strength to strength from being part of SRG,” Anderson added.

James Woolerton, Tristar’s managing director, said: “Joining Specialist Risk Group marks a significant milestone for Tristar Special Risks and brings exciting opportunities for our broker partners.

“With SRG’s infrastructure and market presence, we look forward to improving all aspects of our offerings; continuing to provide best in market terrorism insurance solutions and providing the unique and market-leading levels of innovation, flexibility, collaboration and expertise our brokers value so highly,” Woolerton added.