Risk Strategies Company Acquires UPA Insurance Brokers
Growing National Insurance Brokerage, Risk Management Consulting Services Firm Deepens Real Estate/Condo Industry Expertise; Continues to Expand West Coast Footprint
(firmenpresse) - BOSTON, MA -- (Marketwire) -- 01/11/12 -- Risk Strategies Company (RSC), a national insurance brokerage and risk management firm headquartered in Boston, today announced that it has acquired Millbrae, Calif.-based UPA Insurance Brokers, an independent insurance agency specializing in commercial real estate, home owners' associations, financial services, non-profits, and hospitality industries in Northern California.
The transaction is RSC's third in the past twelve months and its second recent acquisition in the real estate and home owners' association sector. Last month, RSC acquired Needham, Mass.-based Global Insurance Network, another real estate/condo market specialist. Last year, RSC merged with Cohn-Reid-O'Neill Insurance Services, Inc. (CRO) in San Mateo, Calif. The UPA staff will soon be co-located in RSC's San Mateo office, further bolstering RSC's Bay Area operations.
Terms of the deal, which closed on December 31, were not disclosed. As part of the transaction, UPA's principals, John Uhl and Chris Palmer, will join RSC and will help to grow RSC's real estate, homeowners, non-profit, and financial services practices. They will join the management team in RSC's Bay Area office. The rest of the UPA staff will become RSC employees, effective immediately.
"The UPA acquisition, combined with the resources within our existing real estate practice and the recent acquisition of Global Insurance Network, allows Risk Strategies Company to quickly build a significant national real estate/condo insurance practice, while further strengthening our client services capabilities here in the Bay Area," said John O'Neill, Executive Vice President of RSC's Bay Area operations. "UPA is very highly regarded in multiple industry sectors based on its consistent track record of growth and a blue-chip client portfolio. We look forward to integrating the UPA staff with our team here and leveraging their expertise and long-term client relationships."
"In joining RSC, UPA now has access to new markets, enhanced risk management resources, and a larger, national base of clients and prospective client and business partners," said Uhl. "We will both greatly benefit from, and contribute to, the expansion of RSC's national real estate/condo insurance practice."
UPA Insurance Brokers, Inc. is an independent insurance agency providing a full range of insurance services for the Northern California area. Founded in 2003, UPA specializes in commercial real estate, home owners' associations, hospitality, non-profit, and financial services accounts. UPA's success is founded on their outstanding service reputation and high level risk management advice. UPA represents most of the major insurance companies, several regional carriers, and has access to a number of specialty programs. UPA's insurance carrier partners include Travelers, Hartford, Philadelphia, Republic and Golden Eagle.
(RSC) is a national brokerage firm distributing property and liability insurance and employee benefits insurance products to both privately held and publicly traded commercial clients. RSC is an acknowledged leader in providing insurance and risk management solutions to middle market and upper middle market clients. Ranked in the top 65 brokers in the country, the company is headquartered in Boston, MA with offices in Metro Boston, Providence, New York City, Metro New York, Chicago, Irvine, Los Angeles, Sacramento and San Francisco.
Jessica Dooley
Communications Coordinator at Risk Strategies Company
(617) 330-5738
or
Lana Tkachenko/Tim Hurley
ThinkMedia PARTNERS for Risk Strategies Company
978-740-1013
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Datum: 11.01.2012 - 08:00 Uhr
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