ALKEME Insurance Acquires Virtue Risk Partners to Enhance Specialty Programs in New York
ALKEME Insurance, a prominent US insurance brokerage, has recently announced its acquisition of Virtue Risk Partners, a managing general agent (MGA) based in Pearl River, New York. This strategic move aims to enhance ALKEME's specialty program capabilities by integrating Virtue's expertise in providing tailored insurance solutions. With a focus on contractors, consultants, and engineers, Virtue Risk Partners offers a platform that delivers not only customized insurance products but also essential risk management support and claims expertise across all 50 states. The acquisition is expected to significantly strengthen ALKEME's program business offerings. Virtue's team brings over 65 years of combined experience in casualty and environmental specialty underwriting, which aligns perfectly with ALKEME's commitment to client-focused service. Curtis Barton, CEO of ALKEME Insurance, expressed enthusiasm about the partnership, highlighting Virtue’s dedication to client needs and ethical practices. He emphasized that this collaboration will deepen ALKEME's capabilities in specialty program underwriting, ultimately broadening the solutions available to clients nationwide. Virtue Risk Partners operates under a unique MGA model, distinguishing itself from conventional retail agency acquisitions. This approach allows for the development of specialized insurance products tailored to clients with complex risk requirements. Joseph Valenza, National Director of Programmes for Virtue Risk Insurance Services, noted that joining ALKEME presents an opportunity to leverage over a decade of disciplined underwriting and innovation. He believes that ALKEME's scale and resources will accelerate their mutual success. This acquisition is part of ALKEME Insurance's broader growth strategy, which emphasizes partnerships with high-performing insurance businesses that share a commitment to exceptional client service and culture. By welcoming Virtue Risk Partners into the ALKEME family, the company aims to expand its specialist capabilities and continue its development in key US markets, reinforcing its position as a leader in the insurance industry.
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