US Risk Insurance Group – considered one of the biggest P&C program and specialty brokerage firms in America – has announced that it has entered into a definitive agreement to be acquired by USI Insurance Services.
Once the transaction closes, US Risk will maintain its current headquarters in Dallas and continue to operate independently under USI’s various existing brands, a release said. These brands include US Risk, Oxford, MGB, James Hampden International, Antarah and UNIS.
US Risk CEO Randall G. Goss and his current leadership team will also remain on board to lead the team.
“With the support of USI, 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,” said Goss in a statement. “USI maintains an established track record of operating independent successful program and specialty brokerage businesses. We remain committed to the same quality of service and the growth and profitability of our carrier partners and retail agents.”
“We look forward to welcoming Randall and the talented professionals from US Risk,” added USI chairman and CEO Michael J. Sicard. “We are passionate about growing, investing, and building upon the tremendous program and specialty insurance platform US Risk has established, and expanding together our firm’s existing capabilities both nationally and internationally.”
Earlier this month, USI acquired New York-based GFI Insurance Brokerage – a brokerage that provides commercial property and casualty insurance, employee benefits and personal risk solutions.