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Boston-based Risk Strategies Co. Inc. said on Monday it has acquired Reiff & Associates LLC, a New York-based brokerage that specializes in placing risks for companies in the entertainment industry.
Terms of the deal were not disclosed.
Founded in 1983, Reiff & Associates has 10 staff and provides tailored risk management and insurance for theater, television, film and media production, staging and rigging, live music and special events, Risk Strategies said in a statement.
The acquisition strengthens Risk Strategies’ expertise in the entertainment space, adding expertise in other areas such as music, staging and rigging and special events, according to the statement.
Risk Strategies is the 16th-largest brokerage of U.S. business with about $367 million in brokerage revenue, according to Business Insurance’s latest ranking.
The red-hot market for brokerage mergers and acquisitions continued to reshape the rankings of the largest global and U.S. brokers last year, with some substantial and longtime firms being absorbed by even larger rivals.