This is the second announced acquisition for Risk Strategies in this month
Another week, another acquisition for Boston-based Risk Strategies. The brokerage firm is acquiring agencies across the nation at a rapid pace. Following its most recent acquisition on June 4th acquisition, the Boston-based brokerage and risk management firm has now added Creative Insurance Solutions to its ranks.
Founded in 2006 by Steven Bender, Creative Insurance Solutions is a custom insurance and risk management agency with offices in Potomac, Maryland and Washington, DC. It offers customized placement for all types of specialized insurance needs for both individuals and families including primary and secondary residences, private collections, identity theft, lost income, as well as kidnap and ransom.
“When evaluating potential partner organizations, we seek out specialization, expertise, and a smart, entrepreneurial spirit,” said Bob Courtemanche, Risk Strategies’ National Private Client Practice Leader. “Steven and his organization ticked all of those boxes and will be great additions to our efforts in the region and the practice.”
“We saw joining Risk Strategies as a great opportunity for our clients and our business,” said Creative Insurance Solutions’ Owner, Steve Bender. “Our clients get access to deep expertise and broad resources, while our business can grow in an environment built for collaboration and initiative.”
Risk Strategies expands its presence in the Mid-Atlantic Corridor
With the addition of Creative Insurance Solutions, Risk Strategies expands its mid-Atlantic footprint both geographically as well as logistically through the accumulation of various “specialty practice groups and expert capabilities.”
The growing list of acquisitions in this area includes the following:
- its 2016 acquisition of Atlass Insurance Group, an established industry leader with unmatched expertise and market access for owners and operators of boats, yachts, and commercial vessels worldwide
- its 2017 acquisition of Cornerstone Professional Liability Consultants, a Philadelphia-based specialist in medical malpractice insurance for physicians and surgeons,
- its 2017 acquisition of Delmarva Surety, a Baltimore-based firm specializing in in the sale and servicing of surety bonds and commercial insurance, and
- its 2018 of Arkin-Youngentob Associates, a full-service employee and executive benefits firm headquartered in Bethesda, Maryland.
Risk Strategies’ financial backing from private equity firm fuels growth
Founded in 1997, Risk Strategies has grown over the last 18 years to become one of the largest insurance brokerage firms in the U.S. The privately-held Risk Strategies focuses on middle and upper-middle market commercial and high-net-worth clients with its vertical industry expertise including healthcare, higher education, manufacturing, professional liability, construction, entertainment, fine arts, private equity, private client and real estate.
In October of 2014 Risk Strategies acquired the DeWitt Stern Group, greatly expanding its Private Client practices into New York City, Chicago, Los Angeles, and Sacramento. In July 2015, it went on to acquire the Burlingame, California-based MacCorkle Insurance Services giving it a foothold in the San Francisco area. In October 2015, the firm established a new Private Client practice in the Southern states of Tennessee, Georgia, and Alabama via its previous acquisition of the Crow Friedman Group.
In November 2015, Kelso & Co., one of the oldest and most established firms in the private equity industry as well as a leading investor in the insurance sector, announced that it had acquired a majority stake in Risk Strategies.