Brown & Brown Programs Inc. has agreed to acquire the assets of the British Columbia, Canada-based managing general agency Special Risk Insurance Managers (SRIM). The transaction is expected to close effective January 1, 2020.
Brown & Brown said the acquisition is a strategic step forward in establishing a presence in the Canadian insurance brokerage market. In addition to its Langley, BC headquarters, Special Risk has offices in Vancouver, Alberta, Manitoba, Ontario and Nova Scotia.
SRIM will operate as a part of Brown & Brown National Programs, which, under the leadership of Chris Walker, consists of 60 specialty niche programs with $3 billion in written premium. SRIM will become an operating unit in the National Programs Division alongside specialist operations such as Arrowhead General Insurance Agency and Bellingham Underwriters.
Mark Woodall will continue to lead the Special Risk team and will be part of the leadership team of the National Programs Division, reporting to Chris Walker. Tom Willie will continue to the lead the underwriting team of Special Risk.
Founded in 1991, SRIM was formed by bringing together four niche market providers: Sports-Can Insurance Consultants, Special Risk Insurance Brokers, Special Risk International and NG Williams & Associates. Among its offerings are sports and entertainment including spas, beauty salons and fitness facilities; marine; non-profits; drones; marinas; contractors equipment; forestry and kidnap/ransom.
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