AssuredPartners buys Wisconsin brokerage

AssuredPartners Inc. announced Tuesday it has bought Madison, Wisconsin-based brokerage Avid Risk Solutions Inc.

Avid was founded in 2012 and has 57 employees. It places commercial lines coverage, including offering captive insurance services, benefits business and personal lines insurance.

Brock Ryan, president and CEO of Avid, and Ben Shortreed, executive vice president, will continue to lead the operations, an AssuredPartners statement said.

The deal is the 12th acquisition by Lake Mary, Florida-based AssuredPartners in 2022, the statement said.

Assured Partners is the 11th largest broker of U.S. business, according to Business Insurance’s most recent ranking.