Reel Media buys sports and entertainment wholesaler Wise Risk

ReutersMay 6, 2025 3:16 PM

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By David Bull

May 6 - (The Insurer) - Paragon Insurance Holdings-owned specialty media and contingency platform Reel Media Insurance Services has bought wholesaler Wise Risk, which specializes in event-driven and specialty insurance products.

Wise Risk was launched in 2020 by its president Steve Perlini, described as a 25-year industry veteran. Perlini will move over to Reel Media along with vice president Lindsey Harris, with both continuing in their current roles following the acquisition.

In a statement, Reel Media CEO Marc Idelson said: “WISE Risk’s focus on entertainment and contingency lines perfectly complements our existing portfolio. Further, this acquisition underscores our commitment to our trading partners across the events, sports and entertainment sectors.”

Ron Ganiats, CEO of Galway Holdings-owned Paragon, said the acquisition would strengthen Reel Media’s ability to deliver tailored coverage.

“Reel Media’s acquisition of WISE Risk underscores our collective commitment to investing in innovative partners who will help drive growth going forward,” he added.

In the statement, the companies highlighted rising demand for event, entertainment and sports insurance, with the entertainment insurance market alone projected to grow nearly 70% by 2029.

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