U.S. Risk announces acquisition of B&H Risk Services, Inc.

Dallas, Texas, August 18, 2017—U.S. Risk Insurance Group, LLC, the nation’s fifth largest Property and Casualty wholesaler, announced today that it has acquired B&H Risk Services, Inc., a Dallas, Texas based Managing General Agency and wholesale broker.

Randall Goss, CEO of U.S. Risk, said, “B&H has built a solid niche and proven their value to both their customers and their carriers for hard-to-write classes of business. This transaction is a further demonstration of our strategic focus on acquiring companies whose experience, resources and values complement our own.”

Bill Buckley, CEO of B&H, said, “Our team is excited to join the U.S. Risk family and is excited about the opportunity to enhance and expand our existing agent relationships and to connect with additional agents.”

U.S. Risk announces acquisition of Strategic Insurance Underwriters

Dallas, Texas, July 24, 2017—U.S. Risk Insurance Group, LLC, the nation’s fifth largest Property and Casualty wholesaler, announced today that it has acquired Strategic Insurance Underwriters, a specialist Trucking MGA and Broker.

Headquartered in Sarasota, Florida, Strategic Insurance Underwriters has a 34-year history of offering tailored insurance products to the trucking and transportation industries, while delivering strong customer service through a partnership approach.

Randall Goss, CEO of U.S. Risk, said, “We entered into a partnership with Strategic Insurance Underwriters about two years ago, and as a result of the success of that partnership, we are very excited to bring the expertise of Bob and his team fully into the U.S. Risk family of companies. This transaction reflects our strategic focus on acquiring companies whose experience, resources and value complement our own.”

Gerry den Boggende and Neal Daunt, current executives at Strategic, will continue to manage and direct the operations of Strategic as part of their new leadership roles within U.S. Risk.

Bob Schneebeck, retiring President of Strategic, said, “We were delighted with the initial partnership with U.S. Risk and view this transaction as a logical next step. I’m excited to see Strategic evolve and further enhance its capabilities to serve its current and future clients.”

U.S. Risk Insurance Group, LLC announces acquisition of IMS London American, names Larry Mennes President, U.S. Risk Solutions (Texas), LLC

Dallas, Texas, July 7, 2017—U.S. Risk Insurance Group, LLC, the nation’s fifth largest Property & Casualty wholesaler, announced today that it has acquired IMS London American Brokerage and Underwriting Services and has named Larry Mennes President of its contract binding operations in Texas, and Stephen Vallender Executive Vice President at U.S. Risk Brokers, Inc.

Headquartered in Houston, Texas, with additional offices in Dallas and San Antonio, IMS London American has been committed to providing superior underwriting and brokerage services since its founding in 2005.

Randall Goss, CEO of U.S. Risk, said, “We are very impressed with the business that Larry and his team built and are excited to bring them into the U.S. Risk group of companies. The acquisition of IMS London American brings additional talent and client service capabilities to our Texas operations, and broadens our base of client retail agents served. This is our most recent acquisition since we announced our partnership with Kohlberg and Company, and continues our strategic focus on acquiring companies whose experience, resources and values complement our own.”

Larry Mennes, President of IMS London American, said, “We view this merger as a very positive event for our employees, carrier partners, and client retail agents. We are looking forward to being able to better serve our agents with the additional markets and products U.S. Risk has available.”

Matthew McCampbell joins U.S. Risk, LLC as Executive Vice President of Corporate Strategy and Development

Matthew McCampbell has joined the U.S. Risk, LLC team as Executive Vice President of Corporate Strategy and Development. McCampbell will be primarily responsible for heading up all acquisition activity as the company continues its plans for aggressive growth.

McCampbell brings to U.S. Risk more than 15 years of experience in strategy and financing in the insurance and financial services industries. Prior to joining U.S. Risk, he was a Vice President at Essent Group, Ltd., where he focused on corporate strategy and finance. Prior to joining Essent in 2010, he was a Vice President in Macquarie Capital’s Financial Institutions Group, where he was responsible for executing M&A and financing transactions for risk-bearing, insurance-distribution and market-structure companies.

McCampbell holds a Masters of Business Administration in finance from the University of Illinois at Urbana-Champaign. He also holds a Bachelor of Arts in psychology and a Bachelor of Science in business administration from Trinity University in San Antonio.

U.S. Risk Announces Strategic Alliance with Aspen Insurance

U.S. Risk, LLC is pleased to announce a strategic alliance with Aspen American Insurance Company, 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 customers’ 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, LLC, 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 U.S. Risk, stated, “We are pleased to bring the people and expertise of Continental to the U.S. 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 U.S. 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, LLC. 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.”