Dallas-based U.S. Risk Insurance Group LLC has acquired IMS London American Brokerage and Underwriting Services and has named two executives to key positions in the company.
U.S. Risk Insurance, the nation’s fifth-largest property and casualty wholesaler, recently announced its purchase of IMS and its appointment of Larry Mennes to president of its contract binding operations in Texas and Stephen Vallender to executive vice president.
“We are very impressed with the business that Larry and his team built and are excited to bring them into the U.S. Risk group of companies,” U.S. Risk CEO Randall Goss said in the announcement.
“The acquisition of IMS London American brings additional talent and client service capabilities to our Texas operations, and broadens our base of client retail agents served,” Goss said in a statement. “This is our most recent acquisition since we announced our partnership with Kohlberg and Company, and continues our strategic focus on acquiring companies whose experience, resources and values complement our own.”
IMS London, which has offices in Dallas, Houston and San Antonio, has provided underwriting and brokerage services since 2005.
“We view this merger as a very positive event for our employees, carrier partners, and client retail agents,” Mennes said in the company’s announcement. “We are looking forward to being able to better serve our agents with the additional markets and products U.S. Risk has available.”