US Risk Insurance Group has completed its previously-announced agreement to be acquired by USI Insurance Services.
Terms of the transaction were not disclosed. The deal was first announced in February.
US Risk will maintain its headquarters in Dallas and will continue to operate independently under USI’s existing brands. US Risk CEO Randall G. Goss and his current leadership team will also remain to lead these businesses.
“Having completed this transaction, US Risk will continue to accelerate the path we have set for ourselves as a leading program manager and specialty brokerage firm both domestically and internationally. USI maintains an established track record of operating independent, successful program and specialty brokerage businesses,” commented Goss upon closure of the transaction.
Goss also offered assurances that US Risk remains committed to providing the same quality of service and to the growth and profitability of its carrier partners and agents.
USI previously acquired New York-based brokerage GFI Insurance Brokerage – also in February. GFI offers commercial P&C insurance, employee benefits, and personal risk solutions to clients in the Northeast region.