US Risk Insurance Group (US Risk) has acquired shares in London based broker NCG Professional Risks. This is the first move in US Risk's planned expansion into the UK market.
Under the arrangement, a new holding company will be formed. US Risk's chairman and chief executive Randall Gross will assume the role of chairman. Jamie Newell and Neill Cotton of NCG will become joint managing directors.
US Risk is a specialist lines underwriting manager and wholesale broker based in Dallas.
NCG, a professional indemnity broking firm, was established in 1999. The company said it hoped the new arrangement would enable it to expand further.
