Risk Strategies Bolsters Real Estate Expertise, Growing Florida Presence with Acquisition of Advanced Insurance Underwriters
Purchase of fourth largest South Florida independent broker marks third state buy this year
BOSTON, December 20, 2016 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it boosted both its real estate expertise, one of its core practice areas, and growing presence in Florida with the acquisition of business insurance specialist Advanced Insurance Underwriters (AIU), headquartered in Hollywood, FL. Terms of the deal were not announced.
The fourth largest independent broker in South Florida, and among the top 60 privately held insurance agencies in the United States, AIU specializes in commercial property & casualty insurance with additional capabilities in employee benefits, private client services and other specialty insurance programs. Included in the acquisition is Advanced E&S Group, a managing general underwriter.
AIU was founded in 1976 and has additional offices in Miami, Sarasota, Palm Beach, Estero and Marco Island. In addition to South Florida, its Advanced E&S Group maintains offices in Dallas, TX; Chicago, IL; and Basalt, CO.
"Soft markets level the brokerage playing field, making proven expertise in problem solving a real differentiator," said Michael Christian, CEO, Risk Strategies. "Advanced Insurance Underwriters is known for their commercial insurance expertise and creative approach in this dynamic market, making it a perfect fit for Risk Strategies' consultative, specialty-driven focus."
In its commercial brokerage and risk management business, AIU serves a broad cross-section of industries including real estate, construction, hospitality, health care, resorts, and clubs among others. A noted specialist in property insurance, AIU brings deep experience in helping individuals, homeowners associations and property management companies develop customized insurance and risk management plans for high-end dwellings, high rise condominiums and apartment buildings.
"Like Risk Strategies, our success has been grounded in knowing that true client value lies in expertise that clarifies complexity and simplifies the process of creating cost effective programs to manage risks," said AIU Co-Owner, Harvey Sheldon. "Becoming part of a national organization with the same approach will greatly benefit all of our clients."
Risk Strategies' third Florida acquisition this year, the AIU buy follows all-lines brokerage Kahn-Carlin Insurance in September and leading yacht and boat insurance specialist Atlass Marine in May.
"Today's fast-paced, interconnected world of business makes a deep bench of knowledge and resources a perquisite for continuing growth," said Charlotte L. Floyd, Managing Partner and Founder of AIU. "Risk Strategies has the capabilities and regional commitment to make a real difference for our clients."
Combined, AIU has just over 140 employees. Prior to the acquisition, Risk Strategies had over 800 employees nationwide.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.