AssuredPartners acquires transportation agencyPosted On: Jul. 11, 2019 10:40 AM CST
AssuredPartners Inc. on Wednesday said it has acquired RIS Insurance Services, based in Anacortes, Washington.
Terms of the deal were not disclosed.
RIS Insurance offers truck, business and personal insurance, Lake Mary, Florida-based AssuredPartners said in a statement. The agency currently reports $7 million in annualized revenue, the brokerage added.
RIS Insurance’s team of 40 employees will remain under the operational leadership of Jim Jermyn and Bill Gillespie.
The transaction is AssuredPartners’ 21st acquisition of 2019, according to the statement.
“Further expansion in our Western Region under the leadership of Mike Paschke is part of the mergers and acquisition strategy set forth for 2019,” AssuredPartners President and Chief Operating Officer Tom Riley said in the statement. “We have invested significantly into the transportation specialty.”
AssuredPartners is the 12th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.