BRP Group, Inc., a rapidly growing independent insurance distribution firm delivering tailored insurance solutions, today announced that BRP Insurance Intermediary Holdings, LLC, a subsidiary of BRP Group, has entered into an agreement to acquire substantially all assets of Highland Risk Services LLC (“Highland Risk”). Highland Risk is a Chicago-based independent insurance firm focused on providing insurance information and programs to those who serve the healthcare industry, the professional liability needs of real estate firms, and cyber insurance needs across a wide range of industries. The Partnership, BRP Group’s nomenclature for a strategic acquisition, is expected to close January 1, 2020, subject to certain closing conditions.
Highland Risk has annual revenue of approximately $11 million. In connection with this Partnership, the Company is branding its Specialty Wholesale platform within its Specialty Operating Group as Connected Risk Solutions.
“Joining the Connected Risk Solutions group is a win for everyone with whom we work,” said Brian Daly, President of Highland Risk, who will become President of Connected Risk Solutions post-Partnership. “Not only will we be positioned to grow our business through access to expanded resources, expertise and industry relationships, we will be uniquely positioned to help our agent partners succeed and better serve their clients.”
Connected Risk Solutions will include AB Risk and KB Risk, both existing BRP Specialty Wholesale Partnerships with deep expertise and relationships in healthcare, managed care, life sciences and social services. Prior to founding Highland Risk and assuming his new leadership role at Connected Risk Solutions, Mr. Daly was Chief Underwriting Officer at Allianz Insurance Company (US).
“The Highland Risk Partnership further bolsters our recognized expertise in the healthcare industry, expands our capabilities in cyber insurance, and opens a new avenue of growth with their real estate practice,” said Trevor Baldwin, Chief Executive Officer of BRP Group. “We are excited to accelerate the expansion of our Specialty Wholesale business under Brian’s leadership. As President of our newly-branded Connected Risk Solutions, he will be focused on building a specialty wholesale brokerage platform dedicated to providing agents and brokers with recognized expertise across industries and product lines for complex risk issues.”
About Connected Risk Solutions
Connected Risk Solutions is a suite of wholesale specialists designed to connect agency partners with the expertise and products needed to propel new business success and best serve clients with complex risks. Industries and products of specialization include cyber insurance, healthcare and real estate agent professional liability, managed care, life sciences and social services. Headquartered in Atlanta with offices in Georgia, Florida, Illinois, Arizona and Washington, the specialists at Connected Risk Solutions partner with agents throughout the nation. Learn more at ConnectedRiskSolutions.com.
ABOUT BRP GROUP, INC.
BRP Group, Inc. is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance and employee benefits, and support our clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our growth. BRP represents over 400,000 clients across the United States and internationally, with over 40 offices in four states. For more information, please visit www.baldwinriskpartners.com.
About Highland Risk Services LLC
Founded in 2007, Highland Risk Services LLC provides insurance information and programs to those who serve the healthcare industry, the professional liability needs of real estate firms, and the ever-growing need for cyber insurance across a wide range of industries. The team of Highland Risk experts knows what agents expect and have built that knowledge into every part of the process.