US financial services company The Hartford has bought Connecticut-based start-up underwriter Y-Risk for an undisclosed sum from Allstar Financial Group. The purchase price will not have a material impact on The Hartford’s financial results, the company said. Y Risk, which is based in New York, will be renamed YR and continue to operate under the name of its parent company, Allstar. The firm will operate as a standalone entity post-acquisition and will become part of the Hartford's Strategy & Ventures group’s portfolio.
US financial services company The Hartford has bought Connecticut-based start-up underwriter Y-Risk for an undisclosed sum from Allstar Financial Group. Y Risk, which is based in New York, will be renamed YR and continue to operate under the name of its parent company, Allstar. The firm will operate as a standalone entity post-acquisition and will become part of the Hartford's Strategy & Ventures group’s portfolio.