Risk Strategies grows Florida presence with acquisition of Advanced Insurance Underwriters
Risk Strategies bolsters real estate expertise, growing Florida presence with acquisition of Advanced Insurance Underwriters
BOSTON, MA -- Risk Strategies Company, a privately held, rapidly growing national insurance brokerage and risk management firm, today boosted both its real estate expertise, one of its core practice areas, and growing presence in Florida with the acquisition of business insurance specialist Advanced Insurance Underwriters (AIU), headquartered in Hollywood, FL. Terms of the deal were not announced.
The fourth largest independent broker in South Florida, and among the top 60 privately held insurance agencies in the United States, AIU specializes in commercial property & casualty insurance with additional capabilities in employee benefits, private client services and other specialty insurance programs. Included in the acquisition is Advanced E&S Group, a managing general underwriter.
AIU was founded in 1976 and has additional offices in Miami, Sarasota, Palm Beach, Estero and Marco Island. In addition to South Florida, its Advanced E&S Group maintains offices in Dallas, TX; Chicago, IL; and Basalt, CO.
"Soft markets level the brokerage playing field, making proven expertise in problem solving a real differentiator," said Michael Christian, CEO, Risk Strategies. "Advanced Insurance Underwriters is known for their commercial insurance expertise and creative approach in this dynamic market, making it a perfect fit for Risk Strategies' consultative, specialty-driven focus."
In its commercial brokerage and risk management business, AIU serves a broad cross-section of industries including real estate, construction, hospitality, health care, resorts, and clubs among others. A noted specialist in property insurance, AIU brings deep experience in helping individuals, homeowners associations and property management companies develop customized insurance and risk management plans for high-end dwellings, high rise condominiums and apartment buildings.
"Like Risk Strategies, our success has been grounded in knowing that true client value lies in expertise that clarifies complexity and simplifies the process of creating cost effective programs to manage risks," said AIU Co-Owner, Harvey Sheldon. "Becoming part of a national organization with the same approach will greatly benefit all of our clients."
"Today's fast-paced, interconnected world of business makes a deep bench of knowledge and resources a perquisite for continuing growth," said Charlotte L. Floyd, Managing Partner and Founder of AIU. "Risk Strategies has the capabilities and regional commitment to make a real difference for our clients."
Combined, AIU has just over 140 employees. Prior to the acquisition, Risk Strategies had over 800 employees nationwide.
About Risk Strategies Company
Risk Strategies Company is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked in the top 25 brokers in the country, the company has offices in more than 30 locations including Boston; Chicago; Los Angeles; Minneapolis, MN; Dallas, TX; New York City; San Francisco; Atlanta, GA; Portsmouth, N.H.; Providence, R.I.; Long Island, N.Y.; Teaneck, N.J.; Ft. Lauderdale, FL; Irvine, Calif.; and Sacramento, CA.