7 April 2015 Insurance

HIIG invests in MGU

Houston International Insurance Group (HIIG) has closed an investment in RISCOM, an underwriting agency based in Shreveport, Louisiana.

The investment gives HIIG a 20 percent ownership in RISCOM, a managing general underwriter (MGU) specialising in underwriting, processing services and claims management.

Stephen Way, chairman and chief executive office (CEO) of HIIG, said: ”We already enjoy a great relationship with RISCOM who have represented us well over the past four years. We expect to expand the insurance products that RISCOM underwrites on our behalf and be part of their future profitable growth."

Michael Dugan, founder and CEO of RISCOM, added: ”With our strong infrastructure and advanced systems, this relationship with HIIG will help execute our long term business objectives and profitable growth plans."

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