Wholesaler buys insurance agents professional lines MGA

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.