Risk Strategies Acquires Risk Management Advisors
Bolsters expertise in captive, self-insurance and other alternatives to traditional insurance
BOSTON, September 04, 2019 -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has acquired Risk Management Advisors, a Long Beach, California-based leader in developing, designing and administering captive insurance programs and self-insured plans. Terms of the deal were not disclosed.
Founded in 2004, Risk Management Advisors (RMA) operates nationally helping companies and organizations in a variety of industries develop innovative alternative approaches to managing their risks, protecting their operations, and reducing their overall cost of risk. Client industries that RMA serves range from manufacturing, trucking, and contractors to auto finance, staffing, restaurant groups, and commercial property owners, among many others.
“Constructing a compliant captive insurance program and operating it for maximum effect is not a sideline task, it requires focus,” said Wesley Sierk, President and Co-Founder, RMA. “Risk Strategies’ understands that specialty focus is what brings clients real value, which makes it a perfect partner as we seek to grow.”
Under the leadership of its founding principals R. Wesley Sierk III, Jarid Beck and Max Jong, RMA has earned an industry reputation for creativity and excellence in its work helping clients in the creation and administration of captive insurance programs, as well as in developing programs for the self-funding of benefits and workers compensation insurance. Collectively, the firm’s close-knit team of advisors has over 50 years of specialized industry experience.
“Today’s dynamic business environment and shifting markets has fostered a strong interest in creative risk financing approaches,” said Mike Christian, Founder and CEO, Risk Strategies. “We’re excited to bring aboard the RMA team and their deep expertise in alternative risk.”
The acquisition of RMA strengthens the firm’s portfolio of alternative specialty capabilities. In July of 2018, Risk Strategies announced it had acquired Sparks, Maryland-based Oxford Risk Management Group, who’s captive expertise built on Risk Strategies’ historic focus on offering clients alternative risk funding methods.
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.