On March 19, 2024, Risk Strategies, a leading international specialty insurance brokerage, acquired Hugh Wood Inc. (U.S.) and Hugh Wood Canada Limited, the U.S. and Canadian entities of H.W. International B.V (HWI B.V.). The transaction value was not disclosed.

Hugh Wood Inc., based in New York City, specialized in commercial lines, personal lines, and benefits solutions with a focus on real estate, marine, ports, metals, fine art, international, and Japanese global clients. Hugh Wood Canada Limited, located in Toronto, was a niche specialty broker for complex commercial lines and personal asset protection.

John Mina, Global CEO of Accession Risk Management Group, expressed excitement about expanding operations into Canada. David Nelson, Chairman of H.W. International B.V., and Simon de Burgh Codrington, Vice Chairman of Hugh Wood Inc., endorsed the deal, highlighting the alignment in values and service quality between the firms.

The acquisition concluded HWI B.V.'s strategic review and sales process initiated in 2021. TAG Financial Institutions Group, LLC served as the sell-side advisor to HWI B.V. This acquisition enhances Risk Strategies' expertise in marine practice and fine art practice, bringing significant capabilities in global cargo transit, marine hull, liability coverage, and specialty coverages in various industries.

Legal advisors for the deal include Stikeman Elliott LLP as Canadian counsel for Risk Strategies, and Fasken Martineau DuMoulin LLP for H.W. International B.V.