Brightstone Specialty Group, a part of Highstreet Insurance coverage Companions, has acquired RMS Hospitality Group (RMS HG) and its sister firm Fortis Danger Options.
Monetary phrases of the deal stay undisclosed.
RMS HG, a programme administrator for insurance coverage within the hospitality sector, supplies insurance coverage options for companies together with fast service eating places, informal eating institutions, stay leisure venues, and varied kinds of bars and nightclubs.
Moreover, the corporate gives claims administration companies by way of its third-party administrator, Fortis Danger Options.
Brightstone CEO Scott Goodreau said: “We’re thrilled to have the RMS HG and Fortis groups be part of Brightstone as we proceed to construct a platform for recognised specialty insurance coverage innovators and leaders who deal with offering tailor-made companies and options in our communities all through the US.
“Growing our choices and experience within the hospitality business with this acquisition will additional permit Brightstone to offer our prospects with the aggressive and complete insurance coverage protection we’re identified for.”
RMS HG president Mark Derrenberger stated: “We’re elated to be a part of the Brightstone household serving the hospitality sector throughout the nation. Brightstone supplies the chance to be a part of a workforce the place we leverage one another’s strengths to raised serve our communities.”
Brightstone operates by way of specialty companies and underwriting divisions.
In December 2024, the corporate bought DMI Insurance coverage Providers and its sister firm South Valley Claims.
Arrange in 1962, DMI is an insurance coverage programme administrator with a deal with the unbiased automotive supplier business.
Earlier this yr, its mother or father firm, Highstreet Insurance coverage, acquired Winder Insurance coverage Centre, an organization dealing with industrial actual property, skilled and contractor dangers.
