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Alliant acquires trade credit, political risk broker One Source

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Alliant has purchased Texas-based credit and political risk broker One Source Risk Management and announced the launch of a new industry vertical within Alliant Specialty called Alliant Trade Credit, the broker announced Thursday.

One Source, founded in 1998 in Portland, Maine by George Babeu, has offices in the US and Canada. It will be integrated into the newly formed division.

In a statement announcing the deal, Alliant chairman and CEO Tom Corbett commented: “The addition of One Source advances our credit and political risk capabilities to position Alliant as a leader in this sector.”

Babeu, who serves as One Source’s president, added: "The One Source team is pleased and excited to be part of the Alliant organization. Having Alliant as our parent will help us continue to expand our footprint throughout North America and dramatically broaden our product offerings and value to our clients."

Peter Arkley, president of Alliant Specialty, indicated that the launch of the new trade credit industry vertical would aid the company’s growth ambitions.

“The need for credit and political risk offerings will continue to grow as we enter 2021, and Alliant is well positioned to meet the demand,” said Arkley.

The acquisition marks a continuation of the expansion drive for Newport Beach-headquartered Alliant.

Last week, Inside P&C revealed the firm had recruited a team of transportation and logistics brokers from rival Willis Towers Watson to launch an office in Knoxville, Tennessee.

Terms of the transaction were not disclosed.

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