Dallas-based insurance broker Southwest Risk LP has started a sale process and already received initial bids, the Insurance Insider reported, citing unnamed sources.

RT Specialty, USI, AmWins and financial investors are reportedly among the first-round bidders. David Helms, managing director at Waller Helms Advisors, is said to be conducting the sale process.

Southwest Risk, RT Specialty and AmWins did not respond to the Insurance Insider's requests for comment, while USI declined to comment.