Risk Strategies Acquires Gerard B. Tracy Associates, Inc.
Adds Connecticut-based employee benefits specialist to growing national practice
BOSTON, July 22, 2019 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has added to the expertise of its employee benefits practice with the acquisition of Gerard B. Tracy Associates, Inc. Terms of the deal were not disclosed.
Based in Fairfield, Connecticut, Gerard B. Tracy Associates, Inc. was founded in 1948 and has a decades-long history of creating employee benefits programs for a variety of public and private entities with a specialty focus on institutions of higher education.
“Risk Strategies was founded on the belief that specialization and expertise are required to win and keep business, because clients are facing complex, costly challenges,” said John Greenbaum, Risk Strategies’ National Employee Benefits Practice Leader. “Gerard B. Tracy Associates has endured and thrived, because they can deliver that type of expertise. It’s a great fit.”
In addition to developing benefit programs for higher education and other types of educational institutions, Gerard B. Tracy Associate’s clients include a number of general and nonprofit organizations, largely located throughout the Northeast.
“We know the power of specialization and expertise coupled with truly understanding clients’ needs and the complexity of their own business operations,” explained Tim Tracy, Jr., Vice President, Gerard B. Tracy Associates, Inc. “Joining a true specialty brokerage firm like Risk Strategies is a perfect way to connect our clients with additional resources, while opening new paths to grow our business.”
In recent years, Risk Strategies has built up one of the country’s most experienced and technically capable employee benefits practice groups. Acquisitions made by the firm have brought on board experts from independent specialty agencies and brokerages, focused exclusively on employee health and welfare program challenges, as well as from firms specializing in alternative financing, including self-funding, and the formation and management of captives. The company has further expanded its benefits reach with the acquisition of service businesses, including an actuarial firm and a healthcare claims auditing organization.
To learn more about Risk Strategies, please visit www.riskstrategies.com
About Risk Strategies
Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles, and San Francisco. RiskStrategies.com.