Alliant Announces the Acquisition of One Source Risk Management & Funding
Alliant formalizes new Alliant Trade Credit vertical
NEWPORT BEACH, CA — Alliant Insurance Services, Inc. has announced the acquisition of One Source Risk Management, an insurance brokerage firm with offices in the United States and Canada. Alliant Chairman and CEO Tom Corbett stated: “The addition of One Source advances our credit and political risk capabilities to position Alliant as a leader in this sector.”
As the leading broker of credit and political risk insurance, One Source provides clients with catastrophic loss protection without increasing credit exposures. Headquartered with its Global Operations and Service Center centrally located in Houston, TX, One Source maintains offices across the United States and in Canada. One Source provides protection against excessive bad debts and customer insolvency.
One Source President George Babeu stated: "The One Source team is pleased and excited to be part of the Alliant organization. Having Alliant as our parent will help us continue to expand our footprint throughout North America and dramatically broaden our product offerings and value to our clients."
The acquisition launches a new industry vertical within Alliant Specialty – Alliant Trade Credit. “We are excited to launch this new vertical and look forward to offering our clients One Source’s cost-effective and profit-enhancing solutions,” said Peter Arkley, President, Alliant Specialty. The need for credit and political risk offerings will continue to grow as we enter 2021, and Alliant is well positioned to meet the demand.”
Terms of the agreement were not disclosed.