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Risk Strategies Inc. has acquired Transport Risk Management Inc., Risk Strategies said in a statement Tuesday.
Terms of the deal were not disclosed.
Based in Conifer, Colorado, Transport Risk specializes in coverage for the aviation, aerospace and aircraft operations and activities.
The acquisition of Transport Risk includes wholesale capabilities with the firm’s managing general agent authority for its specialty drone program, the statement said.
Transport Risk also has an existing relationship with Risk Strategies’ entertainment and media specialty division, DeWitt Stern Group, the statement said.
Transport Risk has seven employees, all of whom will remain with the firm, according to an email from a spokeswoman.
Risk Strategies is the 16th-largest broker of U.S. business, according to Business Insurance’s latest ranking.
Boston-based Risk Strategies Co. Inc. said on Wednesday it has acquired Risk Management Advisors Inc., a California-based captive manager in a move strengthening its alternative specialty portfolio.