Ricco Family partners, LTD

Ricco Family partners, LTD has been building quality commercial properties since 1972. Nicholas D. Ricco initially built properties to house his insurance agencies. And after acquiring 44 insurance agencies and 45 buildings, Ricco structured a retirement plan permitting the sale of these properties. As of 2006, all insurance agencies have been sold and only the listed properties herein remain, the most recent being a seventeen home site development in the Rockport-Fulton area, thirty-five miles north of Corpus Christi.

More and personal:

Nicholas D. Ricco and Ann G. Ricco of Dallas for 35 years have successfully raised six children fifteen grand children ages two to twenty-nine years and two great grandchildren, all of who are partners of RICCO FAMILY PARTNERS, LTD.

Nicholas (Nick) D. Ricco was born in New York City in 1932 attended James Madison H.S. then Fordham University for one year before enlisting in the U.S. Air Force in 1952. He was commissioned as a 2nd Lieutenant in September 1953 as a Navigator and Bombardier and assigned as an instructor to Strategic Air Command B-47 and B-52 Air Force pilots and navigators from 1953 to 1959. Although specialized in radar bombing, Lt. Nicholas Ricco attended every school of this extensive wartime skills program and became sufficiently proficient to teach all phases including nuclear weapons, meteorology and world wide navigation..

He terminated his active duty in 1959 to attend the University of North Texas to obtain a BBA with Banking as a major with an Accounting minor but continued to fly with the Air Force Reserves. While in school, a personal accident requiring hospitalization for Nicholas Ricco created an interest in health insurance which led to training and sales in life, health and then property and casualty insurance. This new career field provided a financial opportunity, which evolved into a lifetime career in 1962, when American General Insurance Company offered a managerial position at a time when personal resources had become strained. Graduate school was then put on hold.

In 1963, while contemplating release from the Air Force Reserve after eleven service years, the Navy recruited then Captain Nicholas D. Ricco, due to his aviation skills to teach long range world wide Aviation navigation since it had evolved to that arena in the active forces but not in the Navy Reserve. The appointment as Navy Lieutenant led to exciting new career fields and education totally foreign to most civilians and military alike. Oceanography and Cryptography were a few of the disciplines garnered over the next twelve years along with the confrontations with Cold War opponents.

Nicholas D. Ricco was the first none pilot in the Navy and Naval Reserves to be appointed as Executive Officer and Commanding Officer of Naval flying squadrons and other Naval operational units as well as the first Naval Flight Officer appointed to a Naval Officer promotion Board.

Along with this military career change in 1964, a program of acquisition of property and casualty insurance agencies began, leading to the accumulation of forty-four agencies by 1987. Real estate development commenced in 1971 with the building of and eventual acquisition of twenty-one commercial properties and twenty residential properties, plus joint ventures involvement.  

In 1974, Nicholas D. Ricco, due to the pressures of his expanding business; sought release from the U. S. Navy Reserves in which he held the rank of Commander.
In 1990, divestiture of holdings became a goal as part of a retirement plan that is still ongoing. Re-entry into the academic world as a student began in 1999 with enrollment at the University of North Texas for a master's degree in journalism for which he has accumulated 36 hours. He hopes to write extensively and teach some of his skills to others. .

Other and current Interests

Nicholas has been elected as National Director of the Navy League of the United States and of the United States Sea Cadet Corp., a youth group in Navy uniforms in schools throughout the country. He is instrumental in bringing crews of Navy ships to Dallas and honoring them in the annual Veterans’ Day Parade as well as proving annual awards for35 Sailors, Marines, Air Force and Army persons who are designated the “Best” of their units in the State of Texas. Ricco was awarded the Distinguish Service Award in 2004 for his services to the Navy and the Navy League of the United States