Risk Strategies Acquires Joyce Insurance Group
Brings specialty capabilities in municipalities, schools and public-works projects
BOSTON, February 16, 2022 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has acquired the retail brokerage operations and assets of Joyce Insurance Group, including Joyce Jackman Bell, and Joyce Haggerty Bell. Terms of the deal were not announced.
Founded in 1955 by Joseph Joyce Sr. and headquartered in Pittston, Pennsylvania, Joyce Insurance Group has grown by combining specialized expertise, a collaborative approach to new business generation, high-touch client service, and targeted acquisitions to gain new capabilities. Its industry specialties include municipalities, schools, excavators, transit authority, and public works-related firms.
“We saw in the Joyce Insurance Group a firm that was a great match with our approach in both their consultative client engagement and industry specialization,” said Scott Popilek, Risk Strategies Managing Director, Atlantic Regional Leader. “We believe their collaborative and specialized approach, matched with our firm’s expertise and capabilities, is a recipe for success.”
Led today by founder Joseph Joyce Senior’s three sons – John Joyce, Joseph Joyce, Jr. and Bill Joyce, Sr. - Joyce Insurance Group provides products and services to over 9,000 clients and enjoys a 98% average client retention rate, indicative of its strong client relationships and well-established reputation in the region.
“When looking for a partner to scale our business, Risk Strategies’ specialty approach and collaborative culture really stood out,” said John Joyce, President of Joyce Insurance Group. “Like us, they clearly understood both the power of specialization and how to work effectively across organizations to serve clients and win business.”
The acquisition of Joyce Insurance Group represents both a solidification of the Risk Strategies presence in Pennsylvania, as well as of the firm’s specialty capabilities in the region. In addition to its Pittston headquarters, Joyce has locations in Old Forge, Nanticoke and Allentown, Pennsylvania. The associated firms included in the acquisition, Joyce Jackman Bell, and Joyce Haggerty Bell, have business focus in commercial lines and personal lines offerings, respectively.
Risk Strategies continues to acquire complementary companies that have a unique and compelling value proposition and are additive to the Risk Strategies family. Over 100 organizations, each with specialty expertise and capabilities, have joined the company since its founding in 1997.
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.
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