Risk Strategies Acquires North American Units of H.W. International

Global specialty brokerage Risk Strategies reported that it has acquired the U.S. and Canadian operating entities of global insurance holding company, H.W. International B.V.

Based in New York City, Hugh Wood Inc. (U.S.) provides commercial lines, personal lines, and group benefits with a focus on real estate, marine, ports, metals, fine art, international, and Japanese global clients. Hugh Wood Canada Limited is based in Toronto, Ontario and is a niche specialty broker focused on complex commercial lines placements and personal asset protection.

HWI expands Risk Strategies’ practice in the commercial marine space, including in developing insurance for global cargo transit and inventory risks, blue & brown water marine hull, liability coverage for vessel owners, and marine liabilities for those clients involved within the marine industry.

HWI also brings specialty expertise to the Risk Strategies fine art practice in a variety of collectibles, including coins and stamps, for a wide range of clients from commercial dealers to private collectors. The Canadian retail operation adds specialty expertise in several industry and commercial and private lines coverages.

The transaction marks the end of a strategic review, and subsequent sales process, by HWI of its North American operations, which started in 2021. TAG Financial Institutions Group acted as advisor to HWI.

David Nelson, chairman, HWI, said his firm considers this as a “first step towards a wider relationship with Risk Strategies and we can only see benefits to all of the HWI B.V. Group’s firms and their teams.”

Risk Strategies has more tha 30 specialty practices serving commercial companies, nonprofits, public entities, and individuals, It has more than 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington D.C., Los Angeles and San Francisco.

Topics Mergers & Acquisitions