BRP Insurance to acquire Highland Risk Services
BRP Insurance Intermediary Holdings, part of BRP Group, an independent insurance distribution firm, is to acquire Highland Risk Services, a Chicago-based independent insurance firm focused on the healthcare industry, the professional liability needs of real estate firms, and cyber insurance across a wide range of industries.
Highland Risk has annual revenue of approximately $11million. In connection with this partnership, the Company is branding its specialty wholesale platform within its specialty operating group as Connected Risk Solutions.
“Joining the Connected Risk Solutions group is a win for everyone with whom we work,” said Brian Daly, president of Highland Risk, who will become president of Connected Risk Solutions post-Partnership. “Not only will we be positioned to grow our business through access to expanded resources, expertise and industry relationships, we will be uniquely positioned to help our agent partners succeed and better serve their clients.”
Connected Risk Solutions will include AB Risk and KB Risk, both existing BRP specialty wholesale partnerships with deep expertise and relationships in healthcare, managed care, life sciences and social services. Prior to founding Highland Risk and assuming his new leadership role at Connected Risk Solutions, Daly was chief underwriting officer at Allianz Insurance Company (US).
“The Highland Risk Partnership further bolsters our recognized expertise in the healthcare industry, expands our capabilities in cyber insurance, and opens a new avenue of growth with their real estate practice,” said Trevor Baldwin, CEO of BRP Group. “We are excited to accelerate the expansion of our Specialty Wholesale business under Brian’s leadership. As President of our newly-branded Connected Risk Solutions, he will be focused on building a specialty wholesale brokerage platform dedicated to providing agents and brokers with recognized expertise across industries and product lines for complex risk issues.”
