BOSTON, July 17, 2018 (GLOBE NEWSWIRE) — Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced the acquisition of Oxford Risk Management Group, an established leader in alternative risk and captive insurance and consulting. Terms of the deal were not disclosed.
Established in 2010 and based in Sparks, Maryland, Oxford Risk Management Group specializes in conducting captive feasibility analysis, coordination and management of turn-key captive insurance company arrangements, both domestically and internationally. The company is led by its founding principals, Michael DiMayo and Kevin Myers.
A captive is an insurance company owned by a non-insurance organization or group of organizations and insures the risks of that organization(s), providing specialized coverage risk financing alternatives that are not commonly available through traditional carrier policy offerings. Risks managed through captive structures can run from property and casualty and employee benefits programs to very specialized enterprise risks.
“Creating and managing captive structures goes back to the earliest days of Risk Strategies, which started primarily as a risk management consultancy to help organizations identify, understand and manage their business risks,” explained Mike Christian, Founder and CEO, Risk Strategies. “Bringing on the team at Oxford will provide a valuable resource for alternative and enterprise risk management for existing and prospective clients across our specialized practices.”
Oxford’s efficient coordination of its own in-house expertise and a network of complementary, best-in-class service providers make it possible for businesses of all sizes to create or participate in a captive insurance company at reasonable cost and gain associated benefits.
“Captive structures are uniquely able to accommodate a broad range of specialized enterprise risks that today’s rapidly evolving business world needs managed to safeguard success,” noted Michael DiMayo, Principal, Oxford Companies. “Becoming part of Risk Strategies, an organization that understands from its founding days the client benefit of a smartly structured captive, made sense as we looked for ways to extend the reach of our operations.”
As one of the premier firms for captive insurance services, the Oxford brand has become synonymous with quality. A best-in-class team approach – bringing together the most respected and experienced experts from around the world – provides clients with private insurance solutions far beyond the capabilities of other firms.
Oxford has enjoyed strong growth through an array of financial and insurance referral sources. Following the acquisition, the Oxford brand and team will operate as usual with the company’s expertise continuing to be available to its many referral channels even as it becomes a resource for Risk Strategies’ clients.
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About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 50 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.