U.S. Risk Insurance Group, and J.B. Lloyd & Associates (JBL) have entered an agreement involving the acquisition by U.S. Risk of an undisclosed ownership interest in the specialist financial institution broker J.B. Lloyd and Associates.
The existing financial institution business of U.S. Risk will be co-managed by Jim Lloyd, CEO of JBL. The combined entities will service over 400 community banks, numerous large banks as well as other financial institutions such as credit unions, mortgage bankers and brokers, insurance companies, broker/dealers, hedge funds, mutual funds, private equity firms, financial planners, finance companies and collection agencies.
The combined premium volume in this class will exceed $50m. JBL will be relocating to the offices of U.S. Risk in the near future.
Jim Lloyd said, "We are delighted to have joined hands with U.S. Risk which will allow us to continue to provide the top notch service, quality coverage, and products our clients deserve. This relationship will broaden our scope and bring together two highly qualified teams of professionals creating an environment clients will find compelling."
Randall Goss, CEO of U.S. Risk, said, "We have known and admired the quality business that Jim Lloyd has built over the years. His dedicated commitment to the banking and financial institution sector is unmatched. We look forward to working closely with Jim to grow this business and set the standards for the industry."
U.S. Risk Insurance Group is the nation’s sixth largest specialty lines underwriting manager and wholesale broker and is headquartered in Dallas Texas.
Operating 16 domestic and international branches, it offers a broad range of products and services through its affiliate companies, which include U.S. Risk Underwriters, U.S. Risk Brokers, U.S. Risk Financial Services, Unisource Program Administrators, Advocate Reinsurance Partners, LLC, Oxford Insurance Brokers, Ltd. (UK), James Hampden International Insurance Brokers Ltd. (UK), Lime Underwriting Ltd. (UK), Antarah FZE (UAE), and Abraxas Insurance A.G. (Zurich).
JBL is a specialty underwriting manager/broker dedicated to the community bank market. Coverages include fidelity bonds, D & O, Cyber Liability, Property-Casualty, Lender Placed and Foreclosed Property coverage, Mortgage Impairment, and Lenders Single Interest.