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Risk Strategies Co. Inc. said Tuesday that it has acquired Northbrook, Illinois-based M. G. Welbel & Associates Inc.
The terms of the deal were not disclosed.
M.G. Welbel & Associates is a professional liability insurance specialty broker that provides service to lawyers and design professionals, like architects, engineers and surveyors.
President of M.G. Welbel and Associates Michael G. Welbel and his staff will join Risk Strategies and operate under the co-branded name M.G. Welbel & Associates, a Risk Strategies Company. Mr. Welbel will serve as professional liability expert in the Midwest and a partner in Risk Strategies’ national professional liability practice, according to a Risk Strategies spokeswoman.
“Clients want to work with people who really understand their business,” Mark Madigan, senior managing director and leader of Risk Strategies’ Midwest region said in a statement. “Michael and his team are recognized authorities in professional liability, and their personalized approach to client service makes them a perfect fit as we build out this practice in the Midwest and nationally.”
Dallas-basedwholesale broker U.S. Risk Insurance Group Inc. said Thursday that it has acquired ownership interest in Strategic Program Managers dba Strategic Insurance Underwriters.