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Risk Strategies Co. has bought rival brokerage Relation Insurance Inc.’s education insurance division.
Terms of the deal were not disclosed.
Walnut Creek, California-based Relation, which has been one of the most acquisitive brokerages over the past several years, said it plans to focus on it national property/casualty insurance and employee benefits businesses.
“We believe the Relation education solutions business is best situated for growth with Risk Strategies’ national education practice,” Timothy Hall, executive vice president of Relation, said in a statement.
The division provides property/casualty and employee benefits products to more than 950 colleges and universities and is the endorsed broker for several national college sports associations, the statement said.
Boston-based Risk Strategies is the 16th largest brokerage of U.S. business, according to Business Insurance’s most recent ranking. Relation is the 36th largest.