Risk Strategies expands in Connecticut with Pawson acquisition
Specialty broker and risk management firm Risk Strategies has acquired Connecticut-based Pawson Insurance, a retail intermediary specialising in property and casualty and employee benefits.
The buyout will expand Risk Strategies’ presence in Connecticut further, following its 2019 acquisition of marine insurance specialist Gowrie Holdings, based in Westbrook.
Before the takeover, Branford-based Pawson had itself grown organically and via a trail of acquisition deals spanning the past 20 years. In 2002 it acquired Diversified Insurance, which was followed by the 2007 purchase of Coan & Bunnell Insurance, and in 2009 by a deal to acquire Fogg Insurance.
Pawson Insurance had been owned and operated by brothers John Dendas Jr and Joe Dendas since 2000, with its client focus including condo associations/homeowners, restaurants, transportation, trade contractors and construction.
Edward Flanagan, Risk Strategies’ New England regional leader, said: “As one of Connecticut’s most respected and well-known full-service insurance brokers, Pawson is a perfect fit to help drive growth in the region.
“We are excited to welcome John, Joe and the entire Pawson team to Risk Strategies and partner together on new growth opportunities.”
John Dendas Jr, Pawson Insurance president and CEO, added: “Becoming part of the Risk Strategies family will enable us to scale our business to further service our existing clients and pursue larger accounts in new industries through access to the products and services of a premier, national specialty broker.”