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Middle-market broker Risk Strategies expands West Coast presence with UPA buy

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MILLBRAE, Calif.—Middle-market insurance broker Risk Strategies Co. Inc. has acquired Millbrae, Calif.-based UPA Insurance Brokers Inc. for an undisclosed sum.

The deal is Boston-based Risk Strategies’ third acquisition in the last two months. In December, the company announced that it had completed a merger with Needham, Mass.-based Global Insurance Network Inc., along with Burlingame, Calif.-based Cohn-Reid-O’Neill Insurance Services Inc.

The acquisition will provide Risk Strategies with wider access to clients’ commercial real estate, homeowners' association, financial services, nonprofits and hospitality industries in Northern California, said John O'Neill, executive vp of Risk Strategies' Bay-area operations, in a statement released Wednesday.

“UPA is very highly regarded in multiple industry sectors based on its consistent track record of growth and a blue-chip client portfolio,” Mr. O’Neill said in the statement. “We look forward to integrating the UPA staff with our team here and leveraging their expertise and long-term client relationships."

UPA's principals John Uhl and Chris Palmer will join the Risk Strategies management team.