US-based specialty insurance brokerage and risk management firm Risk Strategies has purchased Sebastian Insurance Group for an undisclosed sum.

Sebastian Insurance Group is based in Florida, the US, and is headed by the company’s principal Bill Kriener.

The company provides various custom coverage solutions such as property and casualty insurance for homes, vehicles, boats and other sectors.

It also offers flood insurance coverage.

In 2008, Kriener, along with his business partner, Gary Frazier, bought Sebastian Insurance from its former owner.

Kriener said: “Risk Strategies’ consultative, specialist approach to risk management is a perfect match for the way we’ve built our business and reputation in the area.

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“It is exciting to know that our people will be welcomed into an organisation that is such a great fit and will give them more ways to build their careers and service their clients.”

Following the latest deal, Sebastian Insurance aims to expand its relationships as well as products to new and existing clients.

Risk Strategies Atlantic region leader Scott Popilek said: “Combining our specialty capabilities with Sebastian’s great reputation and local area knowledge, we believe, will enable a robust build out of business.”

The company is focused on property and casualty, employee benefits as well as private client services risks management.

In April this year, Risk Strategies acquired insurance brokerage and risk management consulting firm Advisor Brokerage Services (ABS).

The deal represented Risk Strategies’ first acquisition in Austin, Texas, the US.