US-based insurance broker Western Security Surplus (WSS) has acquired insurance agency Houston Surplus Lines (HSL) for the growth and expansion of its specialty insurance business.
The financial terms of the deal have not been made public.
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Founded in 1994, HSL is an excess and surplus lines general insurance agency presently managed by president Barbara Partlow and CFO Carol Gardner.
The Texas-based insurer has long-standing ties with some A-rated surplus lines carriers along with a solid list of brokerage markets.
Partlow said: “The opportunity to team with WSS and its operations in Plano, Texas and California is something we’re thrilled to share with our customers and carriers.
“Our in-house underwriting experts will now be able to offer more resources including markets and products, giving our customers more solutions for their hard to place risks.”
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By GlobalDataHSL is the second acquisition by WSS, and also the seventh acquisition by XPT Group, the parent company of WSS.
XPT is a specialty insurance distribution company, preceded by LP Risk, WSS, WE Love & Associates (WEL), SVA Underwriting (SVA), Klein & Costa (K&C) and Sierra Specialty (Sierra).
WSS president and CEO Kyle Stevens said: “Since joining XPT Group, we have been very successful in expanding WSS on the West Coast.
“Adding a valuable partner like HSL demonstrates our commitment to expanding throughout Texas as well.
“This is another step in strengthening our position in one of the largest E&S marketplaces in the country.”
