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Texas-based US Risk Insurance Group, a specialty lines underwriting manager and property/casualty wholesale broker, has entered into a definitive agreement to be acquired by USI Insurance Services, a insurance brokerage and consulting firm.
The transaction is expected to close in the second quarter of 2019.
Upon the closing, US Risk will maintain its Dallas headquarters and continue to operate independently under the company’s various existing brands, US Risk, Oxford, MGB, James Hampden International, Antarah and UNIS.
US Risk chief executive officer Randall Goss and his current leadership team will remain and continue to lead these businesses.
“With the support of USI, US Risk will continue to accelerate the path we have set for ourselves as a leading program manager and specialty brokerage firm both domestically and internationally," said Goss. "USI maintains an established track record of operating independent successful program and specialty brokerage businesses. We remain committed to the same quality of service and the growth and profitability of our carrier partners and retail agents.”
Michael Sicard, USI’s chairman and chief executive officer, said: “We look forward to welcoming Randall and the talented professionals from US Risk. We are passionate about growing, investing, and building upon the tremendous program and specialty insurance platform US Risk has established, and expanding together our firm’s existing capabilities both nationally and internationally.”
USI Insurance, US Risk, Specialty, P&C, M&A, North America, Randall Goss