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Risk Strategies buys captive manager

Posted On: Sep. 4, 2019 11:14 AM CST

Risk Strategies

Boston-based Risk Strategies Co. Inc. said on Wednesday it has acquired Risk Management Advisors Inc., a California-based captive manager in a move strengthening its alternative specialty portfolio.

Terms of the deal were not disclosed.

Founded in 2004, Risk Management Advisors develops, designs and administers captive insurance programs and self-insured plans for a variety of industries, including manufacturing, trucking, contractors, finance and commercial property owners, Risk Strategies said in a statement.

The deal strengthens the firm’s alternative specialty portfolio and follows its July 2018 acquisition of Maryland-based captive consultancy Oxford Risk Management Group, Risk Strategies said.

“Constructing a compliant captive insurance program and operating it for maximum effect is not a sideline task, it requires focus,” Wesley Sierk, president and co-founder, Risk Management Advisors Inc., said in the statement. “Risk Strategies understands that specialty focus is what brings clients real value, which makes it a perfect partner as we seek to grow.”

All 16 Risk Management Advisors staff will join Risk Strategies, a spokeswoman confirmed.

Risk Strategies is the 16th largest brokerage of U.S. business, according to Business Insurance’s latest ranking.