Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group.
Terms of the acquisition were not disclosed.
Founded in 2012, Wallace Specialty was created to provide the dental industry with the best-in-class insurance services. The firm creates custom, comprehensive insurance plans for dental service organizations, dentists, and oral and maxillofacial surgeons.
The company’s offerings, for their clients include professional liability, property and general liability, workers’ compensation, management liability, individual and group benefits, among others.
The company is based just outside of Dallas in Richardson, Texas.
Wallace Specialty is led by its founders and principals, Kyle and Terri Wallace. The businesses core team of insurance professionals use their industry expertise to successfully compete against larger, national insurance brokerages in their region.
In addition, the firm serves dental professionals across the spectrum, including associates in practice, group practices and practice owners. The firm also enjoys exclusive relationships with leading insurance companies in several US states and counts over 6,000 dentists as clients.
Risk Strategies’ acquisition of Wallace Specialty will play a substantial role in building out the company’s overall capabilities in serving medical professionals.
Risk Strategies National Health Care Practice is a market leader and operates as a fully integrated practice across product lines and geographies.
“Risk Strategies strong, steady success has been built on focused, specialty expertise that helps clients confidently manage an increasingly complex world,” said Steve Giannone, Risk Strategies central region leader.
“Wallace Specialty group will add new specialty expertise to our capabilities, and we see great potential to help their team build their business in new ways.”
“We know that specialty expertise creates real value for clients and our business,” said Kyle Wallace.
“As part of Risk Strategies, we’re able to preserve that specialty focus while expanding our capabilities for existing clients and our appeal to prospective clients.”
Earlier this year, Risk Strategies acquired The Insurance Center of Central Florida (ICCF), a firm primarily focused on crafting risk management solutions for private clients.