Insurance brokerage and risk management firm, Risk Strategies, has acquired Combined Underwriters of Miami – a full-service independent insurance agency that provides commercial and personal insurance products to clients in South Florida.
Terms of the deal were not disclosed.
Headquartered in Miami, Combined Underwriters offers a variety of insurance and employee benefit products to assist a variety of organisations, including commercial business organisations, governmental and institutional, condominium and homeowner associations, and individual clients.
Moreover, the company also particularly focuses on associations and has maintained a broad client base across numerous business segments which includes, warehouses, contractors, engineers and architects, and freight forwarders, among others.
Elsewhere, Combined Underwriters also uses a mixture of product offerings and capabilities, which includes property, homeowners, wind, builders’ risk and employee benefits, among others, which will ultimately help expand Risk Strategies’ presence and capabilities in the state of Florida.
Over the past decade, Risk Strategies has made a number of strategic acquisitions in the state, adding deep expertise in a variety of risk areas from commercial real estate and marine to medical malpractice.
Scott Popilek, Atlantic Regional Leader, Risk Strategies, said: “We know that each risk is unique and success in tough markets requires deep experience and expertise. Combined Underwriters long history of success in South Florida gave us great confidence that its team has the right qualities to be a valuable addition to the Risk Strategies family.”
Susana Sanchez-Armengol, President, Combined Underwriters, added: “In seeking a national-scale partner to expand the capabilities and resources available to our clients, Risk Strategies specialist approach to risk and commitment to the state really stood out,” We’re excited by the possibilities this partnership presents for our business, clients and employees.”
Earlier this month, Risk Strategies 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.