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Wholesaler U.S. Risk LLC said Friday it has acquired Houston-based U.S. E&O Brokers, a wholesaler and managing general agency that focuses on professional lines coverage for insurance agents.
Terms of the transaction were not disclosed.
The U.S. E&O team will join Dallas-based U.S. Risks’ special programs division, according to a statement issued by U.S. Risk.
USI Insurance Services LLC said in February it had reached an agreement to acquire U.S. Risk.
U.S. Risk is the seventh-largest wholesaler, according to Business Insurance’s latest ranking, with $728 million in premium volume and gross revenue of $62.8 million in 2017.
USI Insurance Services LLC has reached an agreement to acquire wholesaler U.S. Risk Insurance Group Inc., in a deal that significantly boosts its presence in the wholesale business.