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Wholesale broker All Risks Ltd. has acquired American Management Advisors Inc., a managing general agent and underwriter for group accident insurance products, for an undisclosed amount, the firm said in a statement Tuesday.
Langhorne, Pennsylvania-based American Management’s group accident products include K-12 student accident, special risk, intercollegiate sports, catastrophic accident and college accident and sickness, according to the statement.
American Management’s president, Janet Smith-Hogeland and the entire AMA staff will join Alive Risk, an All Risks division that specializes in property and casualty as well as accident and health insurance products for events, said the statement.
Hunt Valley, Maryland-based All Risks, which says it is the largest national independent wholesale brokerage firm, has 30 offices and reported $1.57 billion in 2016 premiums, according to a spokeswoman.
Sapiens International Corp., a Holon, Israel-based provider of software for the insurance industry, has entered an agreement to acquire StoneRiver Inc. for $102 million.