Latest news with #RiskStrategies
Yahoo
11-06-2025
- Business
- Yahoo
Brown & Brown to buy Accession Risk Management for $9.82bn
Brown & Brown has agreed to acquire RSC Topco, the holding company for Accession Risk Management Group, for a gross purchase price of $9.83bn. The terms of the agreement stipulate that Brown & Brown will acquire RSC on a cash and debt-free basis. Accession, established in 1997, operates Risk Strategies, a specialty brokerage, and One80 Intermediaries, an insurance wholesaler and programme manager. The company employs more than 5,000 insurance professionals across the US and Canada and reported pro forma adjusted revenues of around $1.7bn for 2024. Post-acquisition, Risk Strategies will become part of Brown & Brown's Retail segment, with John Mina, the current leader, joining the retail senior leadership team. Additionally, Brown & Brown will merge its Programmes and Wholesale Brokerage segments into a new specialty distribution segment. One80 Intermediaries will be incorporated into the specialty distribution segment, with executive Matt Power joining the senior leadership team. The acquisition is expected to strengthen Brown & Brown's customer, carrier partner relationships, enhance trading platforms for insurance carrier partners and contribute to revenue and cash flow growth. Brown & Brown president and CEO J. Powell Brown said: 'Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organisations to the forefront, enabling us to augment and strengthen our collective growth." The acquisition is subject to customary closing conditions and regulatory approvals, with an expected completion date in the third quarter of 2025 (Q3 2025). Accession CEO John Mina stated: 'As we began contemplating the next major leap in our journey, we were adamant that any potential partner must have the capability and conviction to strengthen our ability to create an industry powerhouse, win amid industry consolidation, lead through innovation and champion our cultural values. "We are pleased to have found that in Brown & Brown.' In April this year, Brown & Brown (Europe) acquired Irvine Commercial Insurance Brokers, a Kenilworth-based company specialising in insurance broking services for small and medium-sized enterprises in the UK. "Brown & Brown to buy Accession Risk Management for $9.82bn " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
CTV News
10-06-2025
- Business
- CTV News
Brown & Brown signs US$9.8 billion deal for rival broker Accession Risk
Insurance broker Brown & Brown will buy Risk Strategies parent and rival Accession Risk Management in a US$9.83 billion deal, the companies announced on Tuesday, bolstering its capabilities in property and casualty and employee benefits. The deal adds to a handful of mega transactions in the highly fragmented insurance broker industry in recent years, as top firms look to increase scale and boost their competitive position. Last year, Aon acquired NFP for $13 billion, while Marsh McLennan bought McGriff Insurance Services for $7.75 billion. Arthur J. Gallagher's $13.45 billion deal for AssuredPartners is expected to close later this year. Shares of Brown & Brown were down 4.5% in premarket trading. Risk Strategies was founded in 1997 by insurance industry veteran Mike Christian. Boston, Massachusetts-based Accession was formed in 2023 to house Risk Strategies and insurance wholesaler One80 Intermediaries. In 2024, Accession posted pro forma revenue of $1.7 billion and placed $15.7 billion in premiums. The group has more than 5,000 insurance professionals throughout the U.S. and Canada. The deal, anticipated to close in the third quarter of 2025, is estimated to boost Brown & Brown's 2024 adjusted profit per share by mid-teens. The Florida-based company will combine its programs and wholesale brokerage segments into a new specialty distribution segment. BofA Securities, J.P. Morgan Securities and Skadden, Arps, Slate, Meagher & Flom advised Brown & Brown on the transaction. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
Reuters
10-06-2025
- Business
- Reuters
Brown & Brown signs $9.8 billion deal for rival broker Accession Risk
June 10 (Reuters) - Insurance broker Brown & Brown (BRO.N), opens new tab will buy Risk Strategies parent Accession Risk Management in a $9.83 billion deal, the companies announced on Tuesday. The deal adds to a handful of mega transactions in the highly fragmented insurance broker industry in recent years, as top firms look to increase scale and boost their competitive position. It is expected to close in the third quarter of 2025.
Yahoo
04-06-2025
- Business
- Yahoo
Risk Strategies purchases Schroeder Insurance
Risk Strategies, a specialty insurance brokerage, has acquired Schroeder Insurance, a company operating out of Missouri, US, with a focus on commercial lines and private client sectors. The financial terms of the deal have not been disclosed. Schroeder is led by Paul and Ted Schroeder, each with more than 30 years of experience in the industry. The company's business is evenly distributed between commercial and private clients, with specialised expertise across various industries such as hospitality, public sector and emergency response organisations. The Missouri-based company was established in 1953 by A.C. Schroeder and Charles Schroeder and has offices in Union and Washington, west of St. Louis. Schroeder Insurance CIC, president Paul Schroeder said: 'We saw joining Risk Strategies as the best way to extend our expertise-based business model. Becoming part of Risk Strategies brings national scale and a breadth of resources that will benefit both our clients and our people now and into the future.' In the US Midwest, Risk Strategies has been pursuing growth with recent investments including Gabrielson Insurance & Financial Services and Comprehensive Benefits. In the Detroit area, the company invested in Ralph C. Wilson Agency in Michigan, IZALE Financial Group in Illinois, First Insurance Group in Ohio and the insurance operations of Johnson Financial Group in Wisconsin. Risk Strategies Central Region leader Steve Giannone stated: 'Schroeder Insurance joining the Risk Strategies family is a real win. 'Paul and Ted have built a strong presence and solid reputation within their market. They understand that specialty knowledge is the key to solving tough risk and liability problems.' In Missouri, Risk Strategies also acquired Thomas McGee Group, Stephens & Associates and Beattie & Associates, all serving St. Louis and Kansas City markets. In April, Risk Strategies added GMC Advisors, a Houston-based operator specialising in commercial lines insurance products. "Risk Strategies purchases Schroeder Insurance " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
07-05-2025
- Health
- Associated Press
Risk Strategies Annual Education Practice Student Health Plan Survey Finds Costs Rising Nationwide
BOSTON, May 07, 2025 (GLOBE NEWSWIRE) -- Risk Strategies , a leading national specialty insurance brokerage and risk management and consulting firm, today released the findings of its Annual Student Health Plan Benchmarking Survey . For the fourth consecutive year, managing student health plan costs remains the top priority for nearly 90% of educational institutions surveyed. Conducted midyear 2024, the survey of approximately 170 colleges and universities showed an overall average plan cost rise of 7.1% with schools in the survey's Eastern region seeing increases of 10% or more. Other regions surveyed experienced more moderate hikes of 5% or less. The survey also noted a decline in enrollment in student health plans, from 29% in 2023 to 24% in 2024. 'While student health plans are generally more stable in cost than employer-based plans, they are not immune to larger pricing trends,' said Terry Lyons, National Education Practice Leader, Risk Strategies. 'Our survey shows the higher education industry is working hard to manage the issue and meet student needs.' To address rising costs, 32% of schools indicated that they had adjusted medical benefits offerings, and 18% said they had modified the prescription drug coverage offered in the plan. The most common changes included: Higher copays and deductibles, with the average deductible increasing from $300 to $360 Shifts from copays to coinsurance for specialty drugs, rising from 12% to 27% Increase in insurance verification for waiver/opt-out enrollment 'With plan costs increasing and enrollments in those plans declining, we see institutions working to find new ways to engage their students about the value of plan coverage,' said Elizabeth Marks, Senior Strategy Consultant, Student Health, Risk Strategies National Education Practice. 'Clarifying plan benefits and emphasizing affordability will likely be key elements of this effort.' In other findings from this edition of the survey, mental health remained an important focus, though it ranked fourth nationally as a priority (76%) – lower than in previous years. It does remain, however, a leading priority for small schools (88%) and institutions in the East (91%). The survey also indicated that more schools (89% in 2024, up from 74% in 2023) are offering wellness programs, though smaller institutions face resource constraints. To access the full results of the survey, please click here . To learn more about Risk Strategies, please visit . About Risk Strategies Risk Strategies , part of Accession Risk Management Group , is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices - Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. . Media Contact Alana Bannan Senior Account Executive [email protected] (720) 400-8025
