One80 has acquired another company, its second in only a few weeks.
A statement today from the Boston-based firm announced that it had picked up Innovative Risk Management, a program manager that providers agents, brokers, and self-insured entities with captive and alternative risk solutions. It follows the company’s purchase of Pearl Insurance, which it announced on these pages a couple of weeks ago.
Also included in the transaction is Programs Plus, which provides underwriting management and policy administration services for self-insured entities, captive insurance, and specialty programs. Marsh, Berry & Company was the exclusive financial adviser for IRM. Terms of the deal were not disclosed.
Matthew S. Power, president of One80, said in a statement: “I am excited to offer captive and alternative risk solutions through the One80 platform with the acquisition of IRM. As we continue to bring together the best talent in the industry, I am confident that IRM’s highly specialized and innovative team will be a fantastic addition to the One80 culture.”
The last two years have seen One80 make a series of acquisitions, including Brokers’ Risk and Vista Underwriting Partners in 2020.
