Risk Strategies Enhances Professional Liability Practice Capabilities with Acquisition of Wholesale Brokerage
- June 05, 2018
Risk Strategies Enhances Professional Liability Practice Capabilities with Acquisition of Cincinnati Intermediaries
BOSTON -- Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, announced the acquisition of Cincinnati Intermediaries LLC, a specialty wholesale brokerage and managing general underwriter (MGU) focused on risk management and insurance for management and professional liability. Terms of the deal were not disclosed.
Founded in 1987, the company’s wholesale operation does business as Cincinnati Intermediaries, and its MGU operates under the name ALTRU. Owned and managed by brothers John and Richard Bolan, the company works with retail agencies and select wholesale brokerages.
“When looking for a partner to help build our business, we sought an organization that understood the value of specialization,” said John Bolan, managing member of Cincinnati Intermediaries. “As a specialty brokerage with a national reputation for technical expertise, we felt that Risk Strategies appreciated our deep focus on professional liability and saw opportunities to expand our scope through their extensive network.”
Cincinnati Intermediaries places insurance on a wholesale basis with nearly 50 insurance carriers. Risk Strategies has previously added specialized wholesale and MGU capabilities through its acquisition of Advanced Insurance Underwriters and Atlass Marine Insurance, both based in South Florida.
The majority of Cincinnati Intermediaries’ customers are located in the Midwest and the South, though California, Massachusetts and Texas are also well-represented in its book of business.
“Broad access is critical to ensuring that clients get the right coverage they need for specific risk scenarios,” explained John Mina, president of Risk Strategies. “Cincinnati Intermediaries’ 30-year history as a wholesaler and MGU has established strong relationships with key carriers and underwriters in management and professional liability. These relationships and CI’s expertise will enhance Risk Strategies’ value to our clients nationally.”