Risk Strategies, a specialty insurance brokerage and risk management and consulting firm, has acquired JW Surety Bonds, a large volume bond producer in the US, along with sister companies Bryant Surety Bonds, Inc. and Lance Surety Bond Associates, Inc. Terms of the deal were not announced.
Based in Pennsylvania, JW Surety Bonds was founded in 2003 and operates across all 50 states. It places a wide variety of bonds including licence and permit bonds, contractor bonds, court bonds and fidelity bonds.
The firm specialises in freight broker, auto dealer and mortgage broker bonds. It offers real-time online quoting capabilities, a simple application and placement process, as well as claims defence.
Brian Whipple, National Surety Practice Leader, commented: “Doing surety bonds well, while making the process as friction-free as possible, is a true specialty skill.
“JW Surety Bonds’ deep expertise, experience and client-first approach has made them a national leader in surety, and we’re thrilled to have them join our firm, practice and family.”
According to the announcement, the acquisition of JW Surety adds significant capabilities and resources to the Risk Strategies Surety Practice’s national presence.
Terms of the deal were not announced.
JD Weisbrot, President & Chief Underwriting Officer, JW Surety Bonds, said: “In the property and casualty world, surety bonds happen to be a niche among niches. I started this firm 20 years ago and finding the right partner for our group of companies was paramount to be able to scale and perpetuate our business.
“We saw Risk Strategies as a standout amongst a sea of potential acquiring insurance brokers due to the quality of their leaders, business model and people first mentality. We are excited and proud to bring our surety expertise to the Risk Strategies family.”