Prime Risk Partners Inc, which is backed by Thomas H. Lee Partners, has acquired New York City-based Gunn, Steers & Company, an insurance broker focused on financial institutions and asset management firms. No financial terms were disclosed.
ATLANTA and NEW YORK, Oct. 26, 2017 /PRNewswire/ — Prime Risk Partners, Inc. (PRP) today announced its acquisition of Gunn, Steers & Company (“Gunn Steers”), a Manhattan-based insurance broker with a specialized practice for financial institutions and asset management companies. Gunn Steers will maintain its name and continue operating at its current location in the heart of Manhattan.
As part of PRP, Gunn Steers will continue to offer clients seamless day-to-day service, backed by the national resources of PRP and the metro presence of Cook Maran & Associates (“Cook Maran”), PRP’s New York metropolitan area platform and one of New York/New Jersey’s largest agencies. In turn, Gunn Steers’ specialized and well branded expertise in financial services will be available to all clients of PRP countrywide.
Gunn Steers started in 1925 and grew to become a large domestic and international full service brokerage and financial services firm. Over the last 30 years, the firm has focused its efforts on brokering and servicing financial institution related clients. This expertise allows Gunn Steers to provide trusted guidance to clients on identifying exposures to loss, avoiding risk, transferring risk and purchasing broad, cost effective insurance programs.
“Gunn Steers has established a trusted reputation and nationally recognized expertise for FI and asset management clients,” said Bret Quigley, Chairman and CEO of Prime Risk Partners. “This specialty will add capabilities to our national platform and strengthen our presence in the New York metropolitan area, already growing via strategic acquisitions and superior service through Cook Maran.”
“We are thrilled to be joining one of the fastest growing national insurance platforms in the country,” said William “Bill” Steers, Managing Member & CEO. “In teaming up with Prime Risk, we will be able to provide new proficiencies and resources to better support our current and future clients while maintaining the high- quality service for which we are known.”
PRP is among the industry’s fastest-growing firms, building a national platform founded with leading regional agencies like Cook Maran and Gunn Steers that seek expansion through local management and knowledge with the resources of a dynamic national organization. PRP is #44 in the most recent Business Insurance ‘Top 100 Business Brokers’ ranking.
About Prime Risk Partners
Prime Risk Partners, headquartered in Atlanta, Georgia, is building a superior national insurance distribution platform through selective acquisitions, strategic new hires, and thoughtful operations. A portfolio company of Thomas H. Lee Partners, it is quickly becoming the partner of choice for insurance industry professionals looking to grow exponentially while becoming a critical piece of a growing national organization. For more information, please visit www.primeriskpartners.com.
About Gunn Steers
Gunn Steers & Company, originally established in 1925 as Gene T. Gunn Company, is a leading national provider of insurance and risk management services to financial institutions, including registered and non-registered Investment Advisors, Mutual Funds, Hedge Funds, Wealth Managers, Private Equity firms and a variety of other asset management organizations. Located in New York City, Gunn Steers has developed and grown a well branded, nationally recognized specialty in meeting all the insurance needs and requirements of the financial institution industry. – For more information, please visit: www.gunnsteers.com.
About Cook Maran
Cook Maran, which traces its roots to 1946, has over 200 employees in 6 offices in New York and New Jersey. Its focus on being a trusted advisor to its business and individual clients has allowed it to enjoy outstanding growth, and it is now one of the leading independent insurance agencies in the New York metro area. For more information, please visit www.cookmaran.com.