USI combines specialty units

Specialty lines underwriting manager and wholesale broker U.S. Risk will combine operations with national program administrator Safehold Special Risk to form Innovation Growth Partners Specialty, the companies announced Wednesday.

IGP Specialty will have more than 30 specialty programs and national wholesale and contract binding capabilities, and will manage more than $1.6 billion in premium, with offices in 17 states and over 650 employees.

The new entity will be part of the USI Insurance Services family of companies.

USI acquired Safehold in its 2017 acquisition of Wells Fargo’s insurance operations.

U.S. Risk was acquired in 2019 by USI.