The transaction is expected to be completed in the second quarter of 2019, subject to customary conditions and legal requirements.
US Risk will maintain its headquarters in Dallas and continue to operate independently under the various existing brands of the company, US Risk, Oxford, MGB, James Hampden International, Antarah and UNIS.
The American Risk Chief Executive Officer Randall G. Goss and his current leadership team will continue to lead these companies.
"With the support of USI, US Risk will continue to follow the path we have set ourselves as a leading program manager and specialized brokerage firm, both domestically and internationally.USI has a proven track record in running an independent, independent program. s and specialized brokerage companies We remain committed to the same service quality and growth and profitability of our carrier partners and retail agents, "Goss said in a statement from the company.
Sandler O & # 39; Neill + Partners, L.P. acted as financial advisor, and Ropes & Gray LLP served as legal counsel for U.S. Risk with this transaction. Simpson Thacher & Bartlett LLP served as legal adviser to USI.
USI Insurance Services, headquartered in Valhalla, New York, supplies goods and accidents, employee benefits, personal risks and pension products and services to clients with high risk management, medium-sized companies, smaller companies and individuals.
Source: American risk insurance group
Here are more articles that you can enjoy.
Do you want to stay informed?
Receive the latest news about insurance
sent directly to your inbox.