U.S. Risk Announces Strategic Alliance with Aspen Insurance

U.S. Risk, LLC (“U.S. Risk”) is pleased to announce a strategic alliance with Aspen American Insurance Company (“Aspen Insurance”), a subsidiary of Aspen Insurance Holdings Limited, to offer a specialty insurance product designed for the marine industry which will provide comprehensive coverage for vessel-assist towboat operators, pilot vessel operators, sightseeing and dinner cruise charterers, passenger ferries and water taxis. This coverage will be available on an admitted basis across all 50 states.

Randall Goss, CEO of U.S. Risk, commented: “We are excited to announce our partnership with Aspen Insurance, and to introduce a marine product with unique enhancements and an innovative policy form to meet our customer’s needs.”  

 Patrick Hickey, Executive Vice President & Head of U.S. Marine, Aspen Insurance, added: “This partnership allows us to jointly offer a custom marine insurance solution for this particular segment of business. We believe that the combination of Aspen Insurance’s product offering and U.S. Risk’s scale and excellent customer service will be well received in the market.”

U.S. Risk names Wayne H. Carter, III President of U.S. Risk Underwriters, Inc.

U.S. Risk, LLC, the nation’s fifth largest Property and Casualty wholesaler and MGA announced that it has named Wayne H. Carter III President of U.S. Risk Underwriters, Inc., its’ proprietary programs group. Mr. Carter will assume senior level management responsibilities for all the U.S. Risk proprietary programs. U.S. Risk currently serves as program administrator for over 25 proprietary programs, representing nine different carriers in market verticals such as Financial Institutions, Healthcare, Energy and Environmental, Entertainment, Professional Liability and Community Associations.

Wayne most recently served as President of Berkley Program Specialists (a W.R. Berkley company). Wayne is a veteran of the insurance industry having started his career as an underwriter with Travelers Insurance Company. Over the course of his career he has served in senior management positions with Brown & Brown, Target Insurance Services and Crump/CRC.

Wayne Carter is a graduate of Virginia Polytechnic Institute and State University with a Bachelor
of Science degree in Mathematics and a Bachelor of Arts degree in Economics. He holds designations as a Chartered Property and Casualty Underwriter and is an Associate in Risk Management.

“I look forward to developing and working with the solid team of program professionals already in place at U.S. Risk. The management of U.S. Risk has demonstrated a firm commitment to investing in the future of U.S. Risk and I am honored to be a part of that mission” said Carter.

Randall Goss, CEO of U.S. Risk, added “We’ve known Wayne for many years and have admired his commitment to our industry and his knowledge and expertise in the specialty program space. We’re excited for the opportunity to work with Wayne to continue to expand our program offerings and services to our clients.”

 

For further information please contact:
Wayne H. Carter, III – CPCU, ARM
Email: wayne.carter@usrisk.com

About U.S. Risk
U.S. Risk, LLC (www.usrisk.com) is a leading international specialty lines underwriting manager and wholesale broker headquartered in Dallas, Texas.  Operating 16 domestic and international branches, it offers a broad range of products and services through its affiliate companies, which include U.S. Risk Underwriters, U.S. Risk Brokers, U.S. Risk Financial Services, Oxford Insurance Brokers, Ltd. (UK), James Hampden International Insurance Brokers Ltd., (UK), Antarah FZE (UAE), and Abraxas Insurance A.G. (Zurich, Liechtenstein).

For further information contact:
U.S. Risk
Randall Goss – Chairman and CEO
Email: randall@usrisk.com
(800)-232-5830

U.S. Risk was ranked the 5th largest wholesaler by Business Insurance for 2016

U.S. Risk announces acquisition of Continental Risk Insurance Services

U.S. Risk L.L.C., the nation’s sixth largest Property and Casualty wholesaler, announced that it has acquired Continental Risk Insurance Services DBA: Continental Marine Insurance Services (Continental).

Continental is a Lodi, California-based Wholesale Insurance Broker. For 12 years, Continental has served the needs of retail insurance agents and insureds alike in the placement of casualty, property and financial services products. With numerous carrier partners and a personal relationship driven culture, Continental has been a leader in placing marine insurance for both commercial and personal marine-related risks such as marinas, boat dealers, boat manufacturers, boat repairers and yacht brokers.

Randall Goss, Chairman and Chief Executive Officer of US Risk stated, “We are pleased to bring the people and expertise of Continental to the US Risk Group of companies. Together with our expansive market capabilities and their focus on the marine insurance business, we will be in a position to better serve our clients.”

Ed Bordenave, President of Continental, said, “We are very excited about this merger and are looking forward to better serving our agency force with the additional markets US Risk has available.”

Jeana Ramos of Continental, said, “Since the origination of Continental Risk 12 years ago, we have always kept the needs of our customers as the driving force behind all of our decisions. With that being said, this holds true once more with our decision to join forces with U.S. Risk L.L.C. This is a tremendous opportunity to be able to greatly expand our market access and open up endless possibilities in our product offerings. Also, you will be dealing with the same friendly staff continuing to provide great service.”

U.S. Risk Insurance Group Announces Transaction with Kohlberg & Company

New Partner Kohlberg & Company Brings Industry Experience and Capital Resources to Fuel Continued Growth, Expansion

Dallas, TX — July 13, 2016 — U.S. Risk Insurance Group, Inc. (“U.S. Risk” or the “Company”), a leading international specialty lines underwriting manager and wholesale broker, today announced that it has entered into a definitive agreement for a significant transaction and partnership with Kohlberg & Company, L.L.C (“Kohlberg”), a leading private equity firm specializing in middle market investing. Through its $1.6 billion private equity fund, Kohlberg Investors VII, L.P., Kohlberg will make a significant equity investment in U.S. Risk and reserve substantial additional equity capital to support the Company’s growth initiatives, which will position the Company for accelerated growth and an enhanced value proposition for current and future customers and partners.

The transaction remains subject to receipt of customary regulatory approvals and is expected to be completed during the third quarter of 2016. Terms of the agreement were not disclosed.

Founded in 1986, U.S. Risk operates through 16 domestic and international branches, which handle insurance underwriting, insurance brokerage and reinsurance brokerage. The Company’s brokerage division specializes in excess and surplus lines coverages, representing more than 100 companies nationwide, and offering all forms of property, casualty, automobile, umbrella, professional and risk management products and services for virtually any type of business. U.S. Risk’s underwriting management division provides underwriting services and manages a variety of niche specialty programs on behalf of numerous highly rated insurance markets. Internationally, U.S. Risk maintains a strong and growing UK-based platform, led by its affiliates Oxford Insurance Brokers, Ltd. and James Hampden International Insurance Brokers Ltd.

Randall Goss, U.S. Risk’s founder, Chairman & CEO, will remain in his current position following the transaction and will continue to be the Company’s largest individual stockholder. At closing of the transaction, Kohlberg & Company’s financial services operating partner Scott M. Birnbaum and insurance industry veteran Roger E. Egan will join U.S. Risk’s board of directors. Together Mr. Birnbaum and Mr. Egan bring six decades of relevant industry experience, including extensive board and executive management experience across leading global and middle-market insurance brokerage retailers and wholesalers, and will play active roles with U.S. Risk, in partnership with Mr. Goss and the U.S. Risk management team, following closing of the transaction.

Mr. Goss stated, “We are delighted to partner with Kohlberg & Company and look forward to working with Scott Birnbaum and Roger Egan in further developing and implementing the strategic growth plan that has brought U.S. Risk to where it is today. In addition to extensive capital resources Kohlberg adds tremendous merger and acquisition capabilities. As important, U.S. Risk will be a stronger partner in our carrier relationships and we will be able to better serve our customers while creating an exciting atmosphere and career opportunities for our employees.”

“Roger and I look forward to working closely with Randall and his team to build upon U.S. Risk’s strong foundation of distribution and underwriting strength, with a mission to solve the complex risk management issues facing the Company’s current and future customers,” commented Scott Birnbaum, Kohlberg Operating Partner. “We believe the U.S. Risk & Kohlberg partnership is uniquely positioned to accelerate the Company’s growth and industry leadership.”

About Kohlberg & Company
Kohlberg & Company is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital. Over its 29-year history, Kohlberg has completed 68 platform investments and approximately 150 add-on acquisitions, with an aggregate transaction value of approximately $10 billion. For more information, please visit www.kohlberg.com.

About U.S. Risk Insurance Group
U. S. Risk Insurance Group, Inc. (www.usrisk.com) is a leading international specialty lines underwriting manager and wholesale broker headquartered in Dallas, Texas. Operating 16 domestic and international branches, it offers a broad range of products and services through its affiliate companies, which include U.S. Risk Underwriters, U.S. Risk Brokers, U.S. Risk Financial Services, Oxford Insurance Brokers, Ltd. (UK), James Hampden International Insurance Brokers Ltd., (UK), Antarah FZE (UAE), and Abraxas Insurance A.G. (Zurich, Liechtenstein).

U.S. Risk names John L. Guadagno Executive Vice President of Binding Operations for U.S. Risk Underwriters

U.S. Risk Insurance Group, Inc., the nation’s sixth largest Property and Casualty wholesaler announced that it has named John L. Guadagno Executive Vice President of Binding Operations for U.S. Risk Underwriters.

John Guadagno is an industry veteran with over 31 years of experience in Property & Casualty Insurance industry on Long Island, specializing in Excess & Surplus lines.  John was instrumental in the creation of the NYMAGIC/Gotham & Endurance Contract Binding Operations, most recently serving as V.P. Marketing for Endurance.  John’s prior roles include E&S Underwriter for I. Arthur Yanoff & Co. Ltd. / RPS-Risk Placement Services and retail producer for Genatt Associates & Ralph Silvers Agency.  He is active with AAMGA, NAPLSO & Target Markets and currently is on the automation/technology committees of both AAMGA & NAPSLO. At U.S. Risk John’s focus will primarily be Contract Binding Operations. John will be based in our Melville, Long Island, NY office and will work closely with all of our underwriting offices to help expand and enhance carrier partnerships within each program.

John Guadagno said, “I am honored to be a new part of the U.S. Risk team and look forward to providing very competitive & innovative solutions and best of class levels of service to our customers in the CT, NJ, NY & PA region.  Being a new regional operator for a world class organization will bring the power of U.S. Risk’s great carrier market relationships & cutting edge technology innovations to bear with more focus to our customers in the North East, providing exciting new market opportunities.”

Randall Goss, CEO of U.S. Risk, said “We’re excited for the opportunity to work with John and   utilize his specialty program knowledge. He will be an asset to U.S. Risk as we continue to expand our presence in the Northeast region.”

For more information please contact:

John Guadagno

Phone: 631-393-5075

Email: john.guadagno@usrisk.com

U.S. Risk announces acquisition of American Underwriting Managers

U.S. Risk Insurance Group, Inc., the nation’s sixth largest Property and Casualty wholesaler announced that it has acquired American Underwriting Managers (AUM).

AUM is a Southlake, Texas, based Managing General Agency and Wholesale Insurance Broker. For 17 years AUM has served the needs of retail insurance agents and insureds alike primarily in Texas and surrounding states. With numerous carrier partners and a personal relationship driven culture AUM has been a leader in the surplus lines and admitted contract binding business.

Randall Goss, CEO of U.S. Risk, said “We look forward to the impact of AUM in the continued expansion of our market presence and the ability to better serve our clients. Working with the team of quality underwriters at AUM we will enhance our current market relationships.”

 

Ken Boyd, President of AUM, said, “AUM’s mission has always been to provide the best service to our agent partners. We are excited to be part of U.S. Risk and we know the opportunity will present an even better opportunity to serve our agents with the additional markets and facilities that U.S. Risk provides.”

U.S. Risk announces acquisition of Matias Underwriters, LLC. Names Glenn Matias National Practice Leader and Vice President for the Workers Compensation Divisions of U.S. Risk Underwriters, Inc.

U.S. Risk Insurance Group, Inc., the nations’ sixth largest Property and Casualty wholesaler announced that it has acquired Matias Underwriters, LLC and has named Glenn Matias National Practice Leader and Vice President for the Workers’ Compensation Division of U.S. Risk.

Glenn will manage the Boston, Dallas, Houston and Sarasota Workers’ Compensation Divisions which have the ability to write both Primary and Excess Workers’ Compensation for an expanded number of classes with competitive rates in all 50 states.

Randall Goss, CEO of U.S. Risk, said “We look forward to the impact of Glenn’s extensive expertise in the Workers’ Compensation arena to continue expanding our presence and better serve our clients. He will lead the expansion of this business throughout the U.S. Risk distribution networks.”

Glenn brings with him over 27 years of experience in the insurance industry and specializes in developing and managing Workers’ Compensation niche programs. At U.S. Risk, Glenn will be focused on increasing overall WC writings by reinvigorating and strengthening U.S. Risk’s current carrier relationships and expanding the carrier lineup specifically designed for the Workers’ Compensation needs of underserved markets and industries.

Glenn earned a Bachelor of Arts in Economics degree from the University of Massachusetts at Amherst.

He can be reached at 800-232-5830 or glenn.matias@usrisk.com

U.S. Risk and Strategic Program Managers announce a new affiliation

Dallas — August 27, 2015 U.S. Risk Insurance Group, Inc. (www.usrisk.com), the sixth largest managing general agency and surplus lines wholesaler in the nation, announced they have entered into an agreement involving the acquisition by U.S. Risk of an undisclosed ownership interest in Strategic Program Managers, a specialist Trucking MGA and Broker. The combined premium volume in this class will exceed $60 million.

Bob Schneebeck, President of Strategic, said “We are delighted to have entered into partnership with U.S. Risk which secures Strategic as a preeminent underwriter of transportation business and brings together two highly qualified teams of professionals creating an environment current and future clients will find compelling.”

Randall Goss, CEO of US Risk, said “Strategic has over 30 years built a sizable platform for the profitable underwriting and distribution of truck insurance. We look forward to working closely with Bob and the team at Strategic to develop this business and continue to set the standards for the industry.”

For more information please contact:

Strategic Program Managers
Bob Schneebeck at (941) 753-3100
Or email bobs@Strategic-Ins.com

U.S. Risk Insurance Group
Randall Goss at 800-232-5830
Or email randall@usrisk.com

About Strategic Program Managers

Florida-based Strategic Program Managers dba Strategic Insurance Underwriters specializes in underwriting, marketing, and administering commercial transportation insurance programs throughout the Midwest & Southeast via a select network of independent retail brokers.