Risk Strategies Company (RSC), a national insurance brokerage and risk management firm, has acquired California-based UPA Insurance Brokers in a bid to further strengthen client services capabilities in the Bay Area.
Details regarding the financial terms of the deal, which is subject to be closed on 31 December 2011, remain undisclosed.
According to the agreement, UPA principals John Uhl and Chris Palmer will join RSC to help grow RSC’s real estate, homeowners, non-profit and financial services practices.
Uhl and Palmer will join the management team in RSC’s Bay Area office while the remaining UPA staff will come under RSC employees, effective immediately.
RSC’s Bay Area executive vice president John O’Neill said the deal combined with the resources within their existing real estate practice and the recent acquisition of Global Insurance Network, allows the company to quickly develop a significant national real estate/condo insurance practice.
UPA Insurance Brokers, founded in 2003, an independent insurance agency providing a full range of insurance services for the Northern California area and specializes in commercial real estate, home owners’ associations, hospitality, non-profit, and financial services accounts.