US Risk Insurance Group acquires IMS London American
Texas-based US Risk Insurance Group, a specialty lines underwriting manager and property/casualty wholesale broker, has acquired IMS London American Brokerage and Underwriting Services.
The company has appointed Larry Mennes as president of its contract binding operations in Texas, and Stephen Vallender as executive vice president at US Risk Brokers.
Headquartered in Houston, Texas, IMS London American has been providing underwriting and brokerage services since its founding in 2005.
Randall Goss, CEO of US Risk, said: "We are very impressed with the business that Larry and his team built and are excited to bring them into the US Risk group of companies. The acquisition of IMS London American brings additional talent and client service capabilities to our Texas operations, and broadens our base of client retail agents served.
"This is our most recent acquisition since we announced our partnership with Kohlberg and Company, and continues our strategic focus on acquiring companies whose experience, resources and values complement our own."
Mennes commented: "We view this merger as a very positive event for our employees, carrier partners, and client retail agents. We are looking forward to being able to better serve our agents with the additional markets and products US Risk has available."
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
Today’s stories
Swiss Re, XL Catlin partner with new Lloyd's MGA Ensurance UK
Grenfell Tower claims estimates double
Willis acquires stake in Indian broker Almondz to target Asia
UK motor insurance cost near all-time high
Outlook for Legal & General deteriorates: S&P
Fitch places Elite Insurance on Rating Watch Negative
Don't miss our monthly insurtech email newsletter - sign up today
