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US broker Risk Strategies has acquired Dallas-based brokerage Terrell Insurance Services, it was announced yesterday – a move that comes less than a year after the firm bought up its first company in the Texas market.
Terrell offers tailored insurance and employee benefits plans for commercial clients, alongside a private client insurance services program offering coverages that include homeowners, auto, art, jewelry and life.
“This acquisition adds private client capabilities for risk strategies in a new market, establishing a beachhead of capability for us in an important speciality practice,” Mike Christian, CEO and founder of Risk Strategies Company, told Insurance Business.
“We focus on specialities first and geography second. Picking up Terrell made perfect sense from both perspectives,” he said, adding that the firm – which is private equity backed by Kelso & Company – plans to continue making strategic acquisitions in line with that vision.
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Bob Courtemanche, senior managing director, private client group national practice leader at Risk Strategies Company, said that Terrell was a good fit for the company.
Speaking of Terrell’s president and principal, Charles T. Terrell Jr. – who has more than 20 years of insurance broking experience in the Dallas-area market – Courtemanche said that the leader has a strong history and solid reputation in personal lines risk management and servicing.
In a release, Terrell said that Risk Strategies’ ability to deliver “national-level resources in a highly localized and personalized service delivery model is a real differentiator in this market.”
“It’s exciting to be part of the organization and to help build out a key practice area in this market,” he commented.
Risk Strategies first entered the Dallas market when it acquired McLaughlin-Brunson Insurance Agency in June 2016, a provider of professional liability, p&c and health insurance serving architects, engineers and certified professional accountants in Texas and Oklahoma.
Terms of the latest deal were not disclosed.
