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AssuredPartners names co-founder Riley as next CEO

Thomas E. Riley and Jim Henderson

Fast-growing brokerage AssuredPartners Inc. on Friday announced that President and Chief Operating Officer Thomas E. Riley will be its next CEO, effective Jan. 1, 2021.

Mr. Riley will succeed current CEO Jim Henderson, who will become executive chairman, AssuredPartners said in a statement, adding that further changes and promotions to the leadership team will be announced at that time.

Mr. Riley and Mr. Henderson, both former Brown & Brown Inc. executives, founded AssuredPartners in 2011 with private equity backing from Chicago-based GTCR LLC.

Under their leadership, Lake Mary, Florida-based AssuredPartners has grown to over $1.6 billion in annualized revenue in less than nine years, according to the statement.

The brokerage was sold back to GTCR in 2019 by private equity backer Apax Partners LLP, which had owned AssuredPartners for three-and-a-half years.

AssuredPartners is the 11th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking, with about $1.4 billion in brokerage revenue.