Specialist Risk Group (SRG) has formally launched its Asia Pacific operations, establishing a regional hub in Singapore, the broker announced on 25 March.
The move marks the UK-headquartered firm’s first foray into the region as it continues its international expansion backed by Warburg Pincus and Temasek.
The launch, first announced in October, was marked at an event attended by around 250 guests from the insurance and business community and attended by APAC CEO Collin Yap and Group CEO Warren Downey.
The company said it will focus on complex and hard-to-place risks, with particular emphasis on specialty lines, complex property and casualty programmes, and employee benefits.
“This launch marks SRG’s first step into Asia Pacific, and it’s a move we do not take lightly,” said Yap. “Our vision is simple: To make SRG the go-to broker and risk advisor for hard-to-place risk – the ones you turn to when the risk is difficult, complex, and requires specialist expertise.”
Downey added: “Singapore was the obvious choice for our Asia Pacific base – a global hub in an increasingly complex world. And if Singapore was the natural choice, then Collin Yap was the natural leader.”
The launch follows SRG’s October 2024 acquisition of HL Suntak from Hong Leong Holdings, forming the foundation of its Singapore retail business. The firm plans to build on this with regional capabilities before expanding further into Asia Pacific.
Downey spoke to (Re)in Asia in November and outlined a three-step strategy for the region: establishing a local presence, building capacity for large and complex risks across Asia, and expanding into additional markets.
“Our Asia Pac business will be unafraid to look at the more challenging areas,” he said. However, he stressed that SRG would not adopt a scattergun approach, instead focusing on “specialist offerings that are relevant to that particular market.”
He also pointed to macroeconomic drivers as potential areas of opportunity, noting that “the dynamics of what is happening around the region are a combination of China’s ambitions and the Belt and Road project.”
While specific expansion markets have not been confirmed, Downey said the firm is exploring opportunities across five or six countries and sees Australia as a natural extension of its Asia Pacific strategy.
