AssuredPartners acquires Cincinnati-based broker

AssuredPartners Inc. said Monday it has acquired Cincinnati-based American Risk Services LLC.

Terms of the transaction were not disclosed.

American Risk Services reports $20 million in annualized revenue, AssuredPartners said in a statement. Its 32 employees will remain under founders Bob Simpson, David Neary and Dave Pendery and the executive leadership of Scott Satterthwaite.

Randy Larsen, president of AssuredPartners, said in the statement that the deal gives the broker continued growth in Ohio.

Lake Mary, Florida-based AssuredPartners is the 11th largest broker of U.S. business, according to the most recent Business Insurance rankings.