US insurance broker and risk management firm Risk Strategies has acquired two subsidiaries of Gowrie Holdings in a move aimed at bolstering the capabilities of the firm’s national private client practice.
The acquisitions include both Gowrie Group, a full-service national specialty retail insurance brokerage, as well as Maritime Program Group, a marine-focused managing general agent.
Founded by Carter Gowrie in 1974, Gowrie today has over 80 employees and five offices in the Northeast.
Together, Gowrie and MPG are the largest recreational marine insurance specialists in the US.
“Finding a way to perpetuate and grow our specialized business has always been our focus,” said Gowrie, GHI Chairman and CEO.
“Risk Strategies, with its specialty-focus, national presence and diverse offerings, is a perfect match for both our retail and wholesale companies. We look forward to realizing our many synergies.”
“We’re excited to bring Carter and his people on board as we further differentiate Risk Strategies from generalist firms,” added John Mina, Risk Strategies’ CEO.
“Their scale in specialization, both in its retail and wholesale businesses, will add significantly to our current businesses and provide a great base for growth.”