Insurance brokerage and risk management firm Risk Strategies Co. acquired Advanced Insurance Underwriters.
Hollywood, Fla.-based Advanced Insurance Underwriters focuses on commercial P&C insurance with additional capabilities in employee benefits, private client services and other specialty insurance programs. Advanced E&S Group, a managing general underwriter, is included in the acquisition.
Advanced Insurance Underwriters also maintains offices in Miami, Sarasota, Palm Beach, Estero and Marco Island in Florida. Advanced E&S Group has offices in Dallas, Chicago, and Basalt, Colo., in addition to its South Florida location.
Terms of the deal were not disclosed.
Kelso & Co. LP owns a majority stake in Risk Strategies.