American speciality insurance broker Risk Strategies has acquired full services commercial and personal lines broker Fournier Group.
Headquartered in Portland, Oregon, the acquired firm expands Risk Strategies’ footprint in the Pacific Northwest.
It also enhances Risk Strategies’ speciality insurance capabilities in the hospitality, restaurant, entertainment, and aviation sectors.
The financial value of the deal was not disclosed.
Risk Strategies national director of retail operations John Scroope said: “We believe culture and expertise are equally important for success. With Fournier Group, we see terrific people who are smart, dedicated, and caring, with deep expertise that will add to key existing practices, while adding valuable new depth and knowledge in others.”
Risk Strategies noted that Fournier is an expert in the restaurant and hospitality industries. Whereas, in 2018, Fournier bought aviation insurance agency Aircraft & Marine.
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A year later, Fournier acquired Casswood Insurance Agency to bolster entertainment insurance capabilities, while enhancing New York and California operations.
Fournier Group president Greg Kuhns said: “In seeking the right partner to perpetuate our business and founding vision, Risk Strategies’ specialist approach and collaborative focus really stood out. Risk Strategies had the expertise-focus we wanted, but we were equally impressed with the quality of the people and inclusive, collaborative culture we encountered at every level of the organization.”
Last month, Risk Strategies bought TriPoint Insurance that offers performance-based insurance (PBI) to middle-market firms.
TriPoint operated in the construction, manufacturing, wholesale, and skilled nursing market.