Risk Strategies Company Builds Chicago-Area Operations, Professional Liabilities Practice With Acquisition of M.G. Welbel & Associates
Deal Marks National Insurance Brokerage's Second Chicago Area Acquisition Since May
BOSTON, November 10, 2015 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has strengthened its Chicago-area operations as well as the expertise of its professional liability practice with the acquisition of M.G. Welbel & Associates. Terms of the deal were not made public.
Headquartered in Northbrook, IL, M.G. Welbel & Associates (MGW) is a professional liability insurance specialty broker with a focus on serving the needs of lawyers and design professionals, including architects, engineers and surveyors. The firm's focus is a natural fit for Risk Strategies, which currently has one of the country's leading brokerage practices for architects, engineers and other design professionals.
"We've built one of the most highly-skilled professional liability insurance specialty brokers in the Chicago-area," said Michael G. Welbel, President of M.G. Welbel and Associates. "Joining Risk Strategies creates an organization with unmatched expertise in the Midwest region and gives clients access to more carriers, better programs and new ways of cost-effectively managing their risk," he added.
In May of this year, Risk Strategies acquired Chicago-based Northwest Comprehensive, bolstering its employee benefits and higher education practices. Risk Strategies established its Midwest presence in 2007 with a start-up office in Northfield, IL, just north of Chicago, and has since more than tripled its head count and business in the region.
"Clients want to work with people who really understand their business," said Mark Madigan, Senior Managing Director and leader of Risk Strategies' Midwest Region. "Michael and his team are recognized authorities in professional liability and their personalized approach to client service makes them a perfect fit as we build out this practice in the Midwest and nationally."
Operating from more than 18 offices across the country, Risk Strategies provides clients the market reach and technical resources of a nationally ranked brokerage with the focused, personalized expertise of a boutique firm. As a lawyer-led professional liability consulting and brokerage firm, the addition of MGW builds on this approach.
In October of this year, Risk Strategies announced a significant investment by new majority owner Kelso & Company to build out its national practices and accelerate growth in key strategic areas.
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.