Risk Strategies Acquires Advanced Insurance Underwriters in Florida

Risk Strategies Company, a privately held, national insurance brokerage and risk management firm, has acquired business insurance specialist Advanced Insurance Underwriters (AIU), headquartered in Hollywood, Fla. Terms of the deal were not announced.

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, Chicago, and Basalt, Colo.

In its commercial brokerage and risk management business, AIU serves a cross-section of industries including real estate, construction, hospitality, health care, resorts, and clubs among others. AIU specializes in property insurance and works to develop customized insurance and risk management plans for high-end dwellings, high rise condominiums and apartment buildings.

Risk Strategies’ third Florida acquisition this year, the AIU buy follows all-lines brokerage Kahn-Carlin Insurance in September and yacht and boat insurance specialist Atlass Marine in May.

Combined, AIU has just over 140 employees. Prior to the acquisition, Risk Strategies had over 800 employees nationwide.

Risk Strategies Company is a U.S. insurance broker offering 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. The company has offices in more than 30 locations including Boston; Chicago; Los Angeles; Minneapolis; Dallas; New York City; San Francisco; Atlanta; Portsmouth, N.H.; Providence, R.I.; Long Island, N.Y.; Teaneck, N.J.; Ft. Lauderdale, Fla.; Irvine, Calif.; and Sacramento.

Topics Mergers & Acquisitions Florida Underwriting