Specialist Risk Group (SRG) has officially launched its operations in the Asia Pacific region, marking a significant expansion of its market presence.

As part of this strategy, SRG plans to acquire HL Suntek Insurance Brokers Pte. Ltd., a prominent insurance broker based in Singapore, with the deal pending customary closing conditions.

The acquisition of HL Suntek, which is being purchased from Hong Leong Holdings for an undisclosed amount, underscores SRG's commitment to establishing a strong regional foothold.

While the financial details of the acquisition have not been disclosed, the move is seen as a pivotal moment for SRG's international growth strategy.

Warren Downey, SRG Group CEO, emphasized the importance of this launch and acquisition, highlighting the significance of local talent and capabilities.

Downey praised HL Suntek's managing director, Lim Eng Thiam, for his impressive business acumen in Singapore and expressed enthusiasm about the partnership.

Lim Eng Thiam also expressed excitement about joining SRG and contributing to its growth in the region.

To bolster its strategic direction in Asia, SRG has appointed Chua Eng Leong as a non-executive director of its Singapore subsidiary, leveraging his extensive leadership experience.

Chua Eng Leong's appointment is aimed at enhancing SRG's growth and understanding of the Asian market.

In September 2024, SRG also expanded its capabilities by acquiring Capulus, a specialist motor fleet Managing General Agent based in Wales.

This announcement was made on October 17, 2024, signaling a new chapter for SRG in the Asia Pacific.

SRG aims to replicate its successful UK business model in the region, focusing on specialized insurance solutions and fostering a strong corporate culture.