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Boston-based broker Risk Strategies Co. has acquired Chicago-based employee benefits broker Northwest Comprehensive Inc.
A spokeswoman for Risk Strategies declined to comment on the terms of the deal, announced Wednesday.
Northwest Comprehensive, which specializes in providing employee benefits for higher education institutions, will be integrated into Risk Strategies’ existing Chicago office, Risk Strategies said in a statement.
Northwest Comprehensive will retain its name and John Cerasani, its president and founder, will continue to manage the business while also assuming the role of Risk Strategies’ Midwest employee benefits practice leader, according to the statement.
“We look for partners that are highly specialized to augment and complement our specialty-focused firm,” Risk Strategies founder and CEO Michael Christian said in the statement. “Northwest Comprehensive’s prominence in employee benefits for colleges and universities will bring expanded expertise and resources to Risk Strategies’ higher education clients.”
Risk Strategies is the 52nd-largest insurance broker of U.S. business, according to Business Insurance’s latest ranking.
Newport Beach, California-based broker Alliant Insurance Services Inc. on Friday said it has acquired independent agency North Idaho Insurance L.L.C.