Acquisition expands retail insurance broker capabilities in New England region
Boston-based Risk Strategies, a national specialty insurance brokerage and risk management firm, has announced its acquisition of Pawson Insurance. Headquartered in Branford, Conn., Pawson Insurance was founded in 1987. Since 2000 the agency has been operated by brothers John Dendas, Jr. and Joe Dendas, and has grown into one of Connecticut’s leading agencies focused on the insurance needs of individuals and large-scale businesses. In particular, Pawson Insurance’s client focus includes condo associations/homeowners, restaurants, transportation, trade contractors and construction.
“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,” said Edward Flanagan, Risk Strategies’ New England Regional Leader. “We both share a passion for our clients’ success, unwavering customer service and a strong community focus. We are excited to welcome John, Joe and the entire Pawson team to Risk Strategies and partner together on new growth opportunities.”
“For over 30 years, Pawson Insurance has been creating value and fostering relationships with clients by delivering peace of mind for their insurance needs,” said John Dendas, Jr., Pawson Insurance President & CEO. “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.”
In addition to growing organically, Pawson Insurance also grew through its own acquisition activity. In 2002, it made its first acquisition of Diversified Insurance of Stratford, Conn., followed by the 2007 acquisition of one of the oldest insurance agencies in the country, Coan & Bunnell Insurance of Orange, Conn., which was founded in 1858. In 2009, Pawson acquired Fogg Insurance of Southington, Conn.
The acquisition of Pawson Insurance expands and complements Risk Strategies’ presence in Connecticut. In 2019, Risk Strategies acquired Gowrie Holdings, Inc., a marine insurance specialist with three offices in the state. Its retail operations, Gowrie Marine, offers a wide range of insurance products, including customized placements for high net worth families and individuals. That same year, Gerard B. Tracy Associates, Inc., a Connecticut-based employee benefits firm with a specialty focus on institutions of higher education, also joined the Risk Strategies family.
