Risk Strategies Expands on Florida’s East Coast
Risk Strategies, a national specialty insurance brokerage and risk management firm based in Boston, has acquired Sebastian Insurance Group of Florida.
Sebastian, headquartered in Sebastian, Florida, on the state’s eastern coast, offers policies for home, auto, marine, commercial, flood and life insurance. The principal is Bill Krenier, who purchased the agency in 2008 with his business partner, Gary Frazier, the company said in a news release.
Risk Strategies continues to expand by acquisition and now has more than 100 offices around the country. In May, the company acquired The Insurance Center of Central Florida, an agency in Melborne, Florida.
Acrisure Buys Brentwood Claims Firm
Acrisure, a fintech company that runs one of the largest insurance brokerage companies, has acquired a Tennessee-based claims services firm.
Brentwood Services Inc., which said it specializes in alternative market solutions, finalized the deal with Acrisure on July 1. Terms were not disclosed.
Brentwood, based near Nashville, was founded in 1990 by Richard Hammer. Keith Fawcett is CEO. The firm includes Brentwood Services Administrators, which provides claims management and loss control for employers in workers’ compensation and other casualty lines, along with some underwriting and accounting services for insurance pools and mutual companies, the company said. Brentwood Reinsurance Intermediaries provides insurance and reinsurance brokerage in workers’ comp, excess liability, accident and health.
Acrisure noted that it has grown be leaps and bounds in the last decade, from $38 million in revenue to more than $3.8 billion. It is a majority employee-owned private company.
Two of Alabama’s Oldest Insurance Agencies Have Merged
Byars|Wright Insurance, with six offices around the state, and Pritchett-Moore Insurance, based in Tuscaloosa, have joined forces to create the Where Relationships Matter Group, or WRM Group, the companies said in a news release.
The firms, both more than 75 years old, have no plans to change locations and current employees will remain in their offices. The merged firm will continue to offer commercial insurance, surety/bonding, employee benefits plans, and personal and life insurance.
Haig Wright II, president of Byars|Wright, and Pritchett-Moore President Lin Moore will remain as managing members of the WRM Group. Gabe Clement of Byars|Wright and Andrew Hudson of Pritchett-Moore comprise the merged firm’s executive committee.
Topics Agencies Alabama
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