National insurance brokerage and risk management firm, Risk Strategies, has acquired Ohio-based Cincinnati Intermediaries LLC, a specialty wholesale brokerage and managing general underwriter (MGU) focused on professional liability. Terms of the deal were not disclosed.
Founded in 1987, the company’s wholesale operation does business as Cincinnati Intermediaries, and its MGU operates under the name ALTRU. Owned and managed by brothers John and Richard Bolan, the company works with retail agencies and select wholesale brokerages.
Cincinnati Intermediaries places insurance on a wholesale basis with nearly 50 insurance carriers. Risk Strategies has previously added specialized wholesale and MGU capabilities through its acquisition of Advanced Insurance Underwriters and Atlass Marine Insurance, both based in South Florida.
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The majority of Cincinnati Intermediaries’ customers are located in the Midwest and the South, though California, Massachusetts and Texas are also well-represented in its book of business.
In addition to enhancing and broadening Risk Strategies’ carrier relationships with several existing trading partners, the acquisition of Cincinnati Intermediaries brings added distribution in areas such as errors and omissions, directors and officers, cyber, architects and engineers, financial institutions, lawyers and non-profits. The acquisition also provides a national solution for the placement of private company and non-profit D&O, E&O and other professional lines.
Risk Strategies is a privately held, national firm with offices in more than 50 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.
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