Boston-based Brokerage firm adds another agency
Risk Strategies is on a roll. For a second week in a row, the Boston-based insurance brokerage firm has announced another agency acquisition. This week’s acquisition is the New York-based firm Reiff & Associates, a brokerage firm providing insurance for the entertainment industry.
“Reiff & Associates has a fantastic reputation for both innovation and high-touch customer service,” said Mike Christian, Risk Strategies’ Chief Executive Officer. “We are extremely excited about the strength of skill and knowledge this will bring to our efforts in expanding our entertainment and media practice.”
Founded in 1983 and based in New York City, Reiff & Associates has provided customized risk management and insurance coverage for a variety of entertainment mediums including theater, television, film and media production, staging and rigging, live music, and special events. According to Risk Strategies, just some of the noteworthy productions covered by Reiff & Associates includes the musicals Hamilton and Hello Dolly, as well as film productions such as “Black Swan,” “Precious,” “The Wrestler,” and “Lost in Translation.”
While initially focused on independent film and television productions, over the years the brokerage firm expanded its reputation and offerings to serve larger producers as well as insureds within the music, concert, and entertainment support industry. In total, the agency’s executive staff boasts more than 5 decades of collective experience in insuring all aspects of the entertainment industry.
“We’ve built our firm by providing specialty expertise focused on very unique industries,” said Dennis Reiff, Managing Director, Reiff & Associates. “Risk Strategies understands the value of our unique expertise. For us, the ability to scale our business by becoming part of a company with an understanding of the resources we bring made all the sense.”
The addition of Reiff & Associates will further strengthen Risk Strategies’ expertise in the entertainment space, while adding significant expertise in other areas such as music, staging and rigging and special events.
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, significantly 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.
