Risk Strategies expands retail insurance brokerage capabilities with acquisition
US insurance brokerage and risk management firm Risk Strategies has acquired a retail insurance brokerage specialising in property & casualty and employee benefits solutions.
The acquisition of Pawson Insurance expands Risk Strategies’ capabilities in Connecticut and the New England region. In 2019, Risk Strategies acquired marine insurance specialist Gowrie Holdings, followed by Connecticut-based employee benefits firm Gerard B. Tracy Associates.
Headquartered in Branford, Connecticut, Pawson was founded in 1987. It focuses on the insurance needs of individuals and large-scale businesses, including condo associations/homeowners, restaurants, transportation, trade contractors and construction. The company has been operated by brothers John Dendas, Jr. and Joe Dendas since 2000.
“As one of Connecticut’s most respected and well-known full-service insurance brokers, Pawson is a perfect fit to help drive growth in the region,” said Edward Flanagan (pictured), R isk Strategies’ New England regional leader. “We both share a passion for our clients’ success, unwavering customer service and a strong community focus. We are excited to welcome John, Joe and the entire Pawson team to Risk Strategies and partner together on new growth opportunities.”
Pawson has grown both organically and through its own acquisition activity. In 2002, it made its first acquisition of Diversified Insurance of Stratford, Connecticut, followed by the 2007 acquisition of one of the oldest insurance agencies in the country, Coan & Bunnell Insurance of Orange, Connecticut, which was founded in 1858. In 2009, Pawson acquired Fogg Insurance of Southington, Connecticut.
“For over 30 years, Pawson Insurance has been creating value and fostering relationships with clients by delivering peace of mind for their insurance needs,” said John Dendas, Jr., Pawson Insurance president and chief executive officer. “Becoming part of the Risk Strategies family will enable us to scale our business to further service our existing clients and pursue larger accounts in new industries through access to the products and services of a premier, national specialty broker.”
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