Hollywood-based insurance agency acquired

Dec. 21--Hollywood-based Advanced Insurance Underwriters has been acquired by Risk Strategies Company, a privately held national insurance brokerage and risk management firm, the companies announced Tuesday.

Terms of the deal were not announced. According to Insurance Journal, Advanced Insurance Underwriters is the fourth-largest independent property and casualty insurance agency in Florida and among the top 70 nationwide.

The company specializes in commercial property and casualty insurance, catering to individuals, homeowner associations, and property management companies, a joint news release said. Its commercial brokerage and risk management arms serve a wide array of industries, including real estate, construction, hospitality, health care, resorts and clubs.

The company was founded in 1976 and has additional offices in Miami, Sarasota, Palm Beach, Estero and Marco Island. Also included in the acquisition is the company's Advanced E&S Group, a managing general underwriter with offices in Dallas, Chicago and Basalt, Co.

The acquisition is Risk Strategies' third in Florida, following purchase of all-lines brokerage Kahn-Carlin Insurance, headquartered in Miami, in September and Fort Lauderdale-based yacht and boat insurance specialist Atlass Marine in May.

Advanced Insurance Underwriters has more than 140 employees. Risk Strategies, the 14th largest property and casualty insurance agency in the nation according to Insurance Journal, has more than 800 employees nationwide. It has offices in more than 30 locations, including Fort Lauderdale.

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