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Prime Risk Partners Adds Financial Services-Focussed Brokerage with Acquisition of Gunn, Steers.

MANews-(C)2009-2017

27 October 2017 - Georgia, US-based insurance broker Prime Risk Partners, Inc. (PRP) has acquired New York, US-based insurance broker Gunn, Steers and Company to create an asset management and financial services-focussed team, the company said.

Terms of the transaction were not disclosed.

As part of PRP, Gunn Steers will maintain its name and continue operating at its current location in the heart of Manhattan. Gunn Steers will be backed by the resources of PRP and metro presence of New York, US-based insurance agency Cook Maran and Associates. Gunn Steers' specialised expertise in financial services will be available to all clients of PRP countrywide.

Prime Risk Partners said this specialty will add capabilities to its national platform and strengthen its presence in the New York metropolitan area, which is growing through acquisitions and services of Cook Maran.

PRP has built a national platform founded with regional agencies like Cook Maran and Gunn Steers that seek expansion through local management and knowledge.

Prime Risk Partners is national insurance distribution platform working through selective acquisitions, new hires, and operations. PRP is a portfolio company of Thomas H. Lee Partners.

Gunn Steers is with a domestic and international full service brokerage and financial services firm, providing insurance and risk management services to investment advisors, mutual funds, hedge funds, wealth managers, private equity firms and other asset management organisations.

Cook Maran is an insurance agency with over 200 employees in six offices in New York and New Jersey, US.

Country: USA

Sector: Insurance

Target: Gunn, Steers and Company

Buyer: Prime Risk Partners

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1U2NY
Date:Oct 27, 2017
Words:281
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