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Risk Strategies Co. Inc. has acquired captive consultancy Oxford Risk Management Group.
Sparks, Maryland-based Oxford conducts captive feasibility analysis, coordination and management of turn-key captive insurer arrangements, both domestically and internationally, according to a statement published Tuesday by the Boston-based brokerage. Terms of the deal were not disclosed.
“Creating and managing captive structures goes back to the earliest days of Risk Strategies, which started primarily as a risk management consultancy to help organizations identify, understand and manage their business risks,” Mike Christian, founder and CEO of Risk Strategies, said in the statement. “Bringing on the team at Oxford will provide a valuable resource for alternative and enterprise risk management for existing and prospective clients across our specialized practices.”
Following the acquisition, the Oxford brand and team of 55 employees will operate as usual, according to the statement.
Risk Strategies is the 17th-ranked broker with about $257.8 million in 2017 U.S. brokerage revenues, a 30% increase from the previous year’s revenues, according to Business Insurance’s recently released top 100 brokers rankings.
Risk Strategies Co. Inc. said Tuesday that it has acquired Northbrook, Illinois-based M. G. Welbel & Associates Inc.