Tuesday Jul 18, 2023
Tuesday Jul 18, 2023
Today’s guests are Warren Downey Group CEO and Lee Anderson, Group Deputy CEO of UK-headquartered intermediary Specialist Risk Group (SRG).
Warren was last on the show as part of two very early Special Episodes that SRG sponsored over three years ago.
Back then SRG was just about to get a new private equity backer in the form of HGGC. Since that change of ownership the growth has been impressive, with SRG increasing its intermediated premium threefold via a combination of organic and inorganic growth.
So far this makes SRG sound like it is treading a well-worn path of PE-backed consolidation, but that would be to fundamentally misunderstand what Warren and Lee are trying to do with this singular organisation.
SRG is a fast-growing broking and MGA platform with very high ambitions, but it is in no way a conventional scale-up play on the hunt for market leverage and cost removal.
SRG is best described as a growing collection of very specialist businesses that are all operating in niches where it is the depth of its specialist knowledge and relevance to very specific markets and not its scale that allows it to compete.
Warren and Lee are a brilliant double act and this is a fascinating and fun insight into a broking group that is building something intentionally different and going out of its way to do unexpected and surprising things.
From being agnostic about channels to market, doing M&A differently, running a shadow board or giving staff access to accelerated management programmes and share ownership, there is a huge amount to admire in what this duo is trying to achieve.
So listen on – Warren and Lee talk about preferring to show people what they have already done as opposed to telling them what exciting, but as yet unexecuted, plans they have for the future and this podcast is full to the brim of excellent examples.
And on a personal note I don’t think I have had a more fun, lively and down-to-earth duo on the podcast in a very long time – the time will fly by.
Warren refers to growth to 600 million in premium volume.
That’s in £ pounds, or $785mn in US Dollars.
SRG’s website is here: www.specialistrisk.com
You can contact Warren Downey at Warren@specialistrisk.com