SRG to Acquire Ecclesia's Assets in Netherlands & Belgium
Deal News | Jan 23, 2025 | Re-Insurance News
Specialist Risk Group (SRG) is set to acquire the assets of Ecclesia Group in the Netherlands and Belgium, a move that will integrate seven businesses and 700 new colleagues into SRG's operations across these countries. This partnership includes Ecclesia Group joining existing shareholders Warburg Pincus and Temasek in SRG, with Ecclesia Group CEO Jochen Körner stepping in as a Non-Executive Director on SRG’s Board. As Germany’s largest insurance broker, Ecclesia Group aims to strengthen its market position domestically while leveraging its international assets to contribute to SRG's growth ambitions across Europe. SRG sees this acquisition as pivotal, significantly increasing its headcount and capabilities. Both companies are setting their strategic sights on expanding their reach and influence in the specialist insurance sector throughout Europe.
Sectors
- Insurance
- Private Equity
Geography
- Netherlands – SRG is acquiring assets in the Netherlands, indicating geographical relevance to their expansion strategy.
- Belgium – Additionally, the acquisition includes assets in Belgium, marking it as another primary geographical focus for SRG.
- Germany – Ecclesia Group, a German-based company, plays a significant role as the selling company. This highlights Germany's importance in the transaction.
- Europe – The deal focuses on expanding SRG's presence throughout Europe, making the continent a significant geographical focus.
Industry
- Insurance – The insurance industry is central to this transaction, as both SRG and Ecclesia Group are significant players in the brokerage and specialist insurance markets.
- Private Equity – Warburg Pincus and Temasek, both private equity firms, are key shareholders in the strategic partnership, indicating this industry’s involvement in the deal.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Specialist Risk Group (SRG) | Buyer/Acquirer | Company | An expanding insurance brokerage firm acquiring Ecclesia’s assets in the Netherlands and Belgium. |
| Ecclesia Group | Selling Company / Vendor | Company | Germany's largest insurance broker, selling its assets in the Netherlands and Belgium to SRG. |
| Warburg Pincus | Shareholder | Company | A private equity firm, existing shareholder of SRG, involved in the strategic partnership. |
| Temasek | Shareholder | Company | An investment company that is a shareholder in SRG. |
| Jochen Körner | CEO / Non-Executive Director | Person | Ecclesia Group CEO who will join the SRG Board as a Non-Executive Director. |
| Warren Downey | CEO | Person | Group CEO of SRG, commenting on the transformative nature of the partnership. |