Specialist Risk Group acquires specialist UK motor fleet MGA
Specialist Risk Group (SRG) has acquired Capulus, a specialist motor fleet MGA based in Wales. The Capulus team will join SRG’s MGA pillar, MX. SRG said the acquisition complements its existing motor fleet underwriting expertise and now positions MX as a significant player in the UK and Ireland, with specialisms spanning motor fleet, property, and casualty.
Lee Anderson, group deputy CEO of SRG, said: “It’s great to welcome Capulus to Specialist Risk Group. Darren, Kevin, and their team have built an incredibly well-run and profitable business, and I’ve genuinely enjoyed getting to know them throughout the acquisition process. The culture and approach of the business are a natural fit with ours.”
He added: “This partnership is a key milestone in our journey to bring together like-minded teams who are committed to delivering exceptional service and support to our broker partners across the UK and Ireland. Capulus’s integration into MX will strengthen our shared culture of excellence and ensure that their clients continue to receive the high level of service they expect, now enhanced by the broader capabilities and resources of SRG.”
Darren Ovenden and Kevin Smith, directors of Capulus, said: “Joining SRG and MX is an exciting new chapter for Capulus. We are proud of what the team has achieved so far and believe that, with SRG’s support, we can take our proposition to the next level. This partnership will accelerate our growth and enable us to offer even more robust solutions to our UK broker partners. We are eager to start this journey with SRG and contribute to their ongoing success in the motor fleet market.”
