King Risk Partners continues expansion
King Risk Partners continues expansion | Insurance Business America
Insurance News
King Risk Partners continues expansion
Transaction the second announced this month
Insurance News
By
Terry Gangcuangco
King Risk Partners has acquired Cypress Risk Management for an undisclosed sum.
Part of King Risk Partners’ strategy to broaden its reach and enhance services in targeted sectors along the Eastern Seaboard, the swoop for the South Carolina-based insurance agency comes on the heels of Virginia-based Coates Insurance Agency’s integration into King Risk Partners.
Cypress, founded in 2012 in Ridgeville, has built a strong reputation serving the forestry and trucking industries. Known for fostering close relationships with its clients, Cypress has leveraged its team’s agricultural and business backgrounds to craft tailored insurance solutions for local businesses.
King Risk Partners chief executive Malcolm King noted: “Their niche expertise, combined with their dedication to excellent customer service, aligns perfectly with our mission to provide specialized, client-focused insurance solutions.
“We see this as a great opportunity to strengthen our offerings in the forestry and trucking sectors, both critical industries in the region.”
Similarly, Cypress owner Matthew Hoover called the deal a “fantastic opportunity” for both the firm and its clients, citing the wider range of resources and offerings it can now access.
“We are looking forward to this next chapter and all the possibilities it brings,” Hoover declared.
Earlier this month, King Risk Partners announced its acquisition of Coates Insurance Agency, which is led by principal Bryant Clinton Coates. The deal marked King Risk Partners’ foray into Virginia.
“Joining King Risk Partners allows us to expand our resources and expertise, enhancing the value we provide to our clients,” Coates said at the time. “We have always been focused on delivering the best possible service, and with King’s support, we will be able to take that to the next level.”
The group also recently snapped up Exclusive Programs, an expert in waste management insurance.
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