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AssuredPartners Inc. said Thursday it has acquired Fleet Risk Management Inc., a St. Simons Island, Georgia-based company that specializes in risk management strategies for the trucking industry.
Terms of the deal were not disclosed.
Fleet Risk Management reports about $2.2 million in revenues, Lake Mary, Florida-based AssuredPartners said Thursday in a statement. The team of 14 staff members will continue operations under President Bob Fuller.
“We are actively growing our Transportation division within AssuredPartners and having the added expertise of the Fleet Risk Management team will be a great asset to our continued growth,” Tom Riley, AssuredPartners’ president and chief operating officer, said in the statement. “This unit of specialized brokers is fully dedicated to the trucking industry and has developed strong business connections with the best carriers in the country.”
AssuredPartners is the 13th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.
Ryan Specialty Group Underwriting Managers, the specialty underwriting unit of Ryan Specialty Group L.L.C., said Wednesday that it has agreed to acquire 100% of the assets and operations of Interstate Insurance Management Inc.