U.S. Risk Insurance takes over Unisource Program Administrators

U.S. Risk Insurance Group Inc said yesterday it had taken over Florida-located Unisource Program Administrators, a wholesaler of workers' compensation, for an undisclosed sum.

The deal will enable U.S. Risk to double workers' compensation written premium and to add four A-rated national carriers to its markets line-up, the company said in a statement. The takeover is also expected to enable U.S. Risk to offer monoline workers' compensation solutions on a national scale.

According to CEO Randall Goss, the transaction is a "strategic acquisition to enhance our product offerings and expand the production footprint".

Country: USA;

Sector: Insurance

Target: Unisource Program Administrators LLC

Buyer: U.S. Risk Insurance Group Inc

Type: Corporate acquisition

Status: Closed

((Comments on this story may be sent to tww.feedback@m2.com))