US-based insurer One80 Intermediaries has acquired the reinsurance intermediary and Managing General Underwriter (MGU) Brokers’ Risk for an undisclosed amount.

Founded in 1979, Brokers’ Risk develops and manages insurance and risk management programmes. It has offices in Oklahoma and Chicago, Illinois.

Brokers’ Risk owns entities like The Sandner Group and Harold F. Hinz Company.

These entities work together to design, underwrite, and administer self-funded, alternative risk programmes.

They focus on public school districts, school boards and officials, not-for-profit foundations, and affordable housing providers.

Brokers’ Risk available programmes include affordable housing insurance, trustees errors and omissions and directors and officers liability insurance, school board legal liability, reinsurance, school foundation insurance, student accident insurance and treasurer’s surety bonds.

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The company also offers tailored coverages to their clients.

Brokers’ Risk senior MD Cheryl Sandner said: “For over 40 years it has been our mission to provide agents and brokers with innovative solutions in risk management, and we feel that One80’s leadership, platform and footprint will allow us to efficiently expand our business.”

The Sandner Group MD James Woodard said: “We were extremely impressed with One80’s culture of innovation and client-centric mindset.

“We are confident that our business will thrive in partnership with the One80 organization.”

One80 is an insurance wholesaler, programme manager, third-party administrator (TPA), and insurance aggregator based in Boston, Massachusetts.

One80 Intermediaries president Matthew Power said: “Acquiring Brokers’ Risk will extend our capabilities and expertise to include innovative self-funded programs, providing public entities with a full suite of tailored insurance products.”