Risk Strategies makes Hugh Wood acquisition

Specialty broker Risk Strategies Co. Tuesday said it has acquired Hugh Wood Inc. and Hugh Wood Canada Ltd., the U.S. and Canadian operating entities of insurance holding company H.W. International B.V.

Terms of the deal were not disclosed.

Based in New York, Hugh Wood Inc. provides commercial lines, personal lines and benefits across the United States with a focus on real estate, marine, ports, metals, fine art, international and Japanese global clients, Risk Strategies said in a statement.

Hugh Wood Canada Ltd. is based in Toronto and is a niche specialty broker focused on complex commercial lines placements, the statement said.

John Mina, global CEO, Accession Risk Management Group, parent brand of Risk Strategies and One80 Intermediaries, noted the deal allows Risk Strategies to expand into Canada.

David Nelson, chairman of HWI BV Group, called the deal “a first step towards a wider relationship with Risk Strategies.”

Private-equity-backed Risk Strategies, the operating name of RSC Insurance Brokerage Inc., is the 15th-largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.