3 May 2023Analysis

Risk Strategies buys IIB

Specialty insurance brokerage and risk management firm Risk Strategies has acquired International Insurance Brokers (IIB), a full-service retail agency based in Tulsa, Oklahoma.

The terms of the deal were not announced.

IIB is a commercial lines focused brokerage firm with a strong regional brand principally focused on providing property & casualty and employee group benefits products. Highly tech-enabled in its operations, the firm has a strong concentration of clients across Oklahoma, Kentucky, and Texas. It traces its roots back to 1979.

In addition to commercial and personal lines insurance, IIB also offers clients captive expertise as well as a portfolio of business and individual financial products and strategies including financial services, retirement plans, life insurance and annuities.

“We’re building out our central region presence as a specialist that brings a client-first, business savvy approach to risk and liability management,” said Steve Giannone, Risk Strategies central regional leader. “International Insurance Brokers is a great fit for us and this approach to expanding our capabilities without compromise.”

According to Risk Strategies IIB’s comprehensive and systematic approach to risk management and protection has engendered strong loyalty and retention among its customer base. The firm’s top 10 client relationships have averaged 17 years. Leading client industries include transportation, non-profit, technology, manufacturing, energy and contractors.

“As we looked to scale our success, we saw cultural fit as key,” said Caroline Sniff, IIB managing partner. “Risk Strategies client-first, approach, emphasis on collaboration and depth and scope of resources make them the right fit for our clients and our people.”