ALKEME Insurance Expands with Acquisition of Virtue Risk Partners

ALKEME Insurance has announced its acquisition of Virtue Risk Partners, a New York-based managing general agent (MGA) specializing in diverse insurance lines, including general casualty, professional liability, environmental coverage, excess lines, and workers' compensation. Financial specifics of the transaction have not been disclosed. This strategic move marks ALKEME's initial foray into MGA program underwriting, deviating from its typical expansion strategy through retail agency acquisitions. Virtue Risk Partners offers tailored insurance products, risk management services, and claims support nationwide, leveraging over 65 years of combined experience in casualty and environmental underwriting. Since 2020, ALKEME has completed over 80 acquisitions, operating from more than 90 locations across 30 states. The company achieved a revenue growth of 36.2% in 2025, reaching $252 million, establishing itself as the fastest-growing brokerage in the U.S. among firms generating over $150 million in revenue. This rapid growth has been fueled chiefly by retail agency acquisitions, with eight occurring in the second quarter of 2026. With the acquisition of Virtue, ALKEME diverges from its typical growth approach. CEO Curtis Barton emphasized that the move enhances ALKEME’s capabilities in specialty program underwriting and broadens its client solutions across the nation. Barton highlighted, "What drew us to Virtue was the same thing that draws us to every partner we bring on: a team that is deeply client-focused and committed to doing things the right way." Joseph Valenza, National Director of Programs at Virtue Risk Insurance Services, expressed that joining ALKEME will leverage the MGA's underwriting strengths and innovation over the past decade. Valenza noted, "ALKEME provides the scale and resources to accelerate that success." This acquisition aligns with the continued rapid growth of the US MGA sector, which has surpassed the growth rate of the broader property and casualty market. Analysis from S&P Global Ratings indicates that the US MGA sector has more than doubled in size, aligning with the expansion of the excess and surplus lines market driven by hard market conditions. Conning's market research shows the US MGA market exceeded $102 billion in premiums by 2023, with an annual growth rate of 13%, outpacing the 10% increase in property-casualty premiums overall. Virtue’s business lines are strategically positioned in markets favorable to specialized underwriters, with reports from firms like WTW and Aon indicating stable and expanding opportunities in US environmental markets and contractors' pollution liability.