Risk Strategies, a North American specialty insurance brokerage, has acquired GMC Advisors, a Houston, US-based company specialising in commercial lines insurance products.
The financial terms of the deal have not been disclosed.
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Set up in 2003 and led by Greg Chubon, GMC Advisors serves the construction, manufacturing and energy sectors.
The company also has a client base in engineering, oil and gas, and petrochemical-related companies in the Houston region.
Chubon, with 37 years of experience in the insurance industry, had a background in new business development for regional and national brokerages before establishing GMC Advisors.
Chubon stated: “Joining Risk Strategies is a fantastic opportunity to scale our specialty focus while retaining our high-touch client service philosophy. I am excited to be able to offer new and expanded capabilities to our clients, as well as new career path opportunities for our people.”
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By GlobalDataRisk Strategies West region leader Pat Roth said: “It is great to add such deep industry expertise to our West Region as we continue to build out our national capabilities in key industries.
“Our firm has built its success on the strength of its people and their specialty knowledge. Greg and his team bring additional expertise to Risk Strategies, and we are excited to have them help drive our growth and meet evolving client needs.”
Over the past decade, Risk Strategies has made several acquisitions in the West Region.
In 2016, the company acquired McLaughlin Brunson Insurance Agency, a Dallas-based company with a focus on architects and engineers’ professional liability insurance.
This was followed by the 2020 acquisition of Transport Risk Management, a Colorado-based aviation insurance specialist.
Furthermore, Risk Strategies brought the Fournier Group from Portland, Oregon, in 2021, adding knowledge in the restaurant and hospitality industries, along with aviation insurance.
In 2022, it acquired Burke Insurance Group, based in New Mexico, adding depth in construction surety bonds.
