BOSTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced the acquisition of Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers by providing risk management consultation and placement of professional liability and other key business insurance coverages. Terms of the deal were not disclosed.
Formed in 1991 from the merger of Redeker Brokerage and Prosurance Brokerage, Prosurance Redeker Group LTD. is led by its two principal owners, Greg Kumm and Warren Redeker. Well-known in the architects and engineers (A&E) marketplace, the company was a founding member of a/e ProNet, the National Network of Architects’ and Engineers’ Professional Liability Insurance Brokers.
“In architecture and engineering, getting the details right is crucial. Expertise matters and is highly valued by clients,” said Mike Christian, founder and CEO of Risk Strategies. “Given their historical focus in this market and stellar reputation, we saw Prosurance Redeker Group as a natural fit for our experts-driven approach to the market.”
Risk Strategies’ A&E-focused professional practices group represents over 4,000 design professionals and consulting firms, reflecting a broad cross section of business types from sole proprietorships to ENR 40 firms with thousands of employees.
“Our long history of success has always tied directly back to the value our organization brings to our clients,” said Greg Kumm, president of Prosurance Redeker. “The level of resources and expertise Risk Strategies offers will benefit existing clients in substantial ways and allow our people to more effectively compete for new business.”
Prosurance Redeker has a distinguished client base in its focus market and the acquisition adds to Risk Strategies’ leading architects and engineers professional liability practice while providing acquired customers access to more than 200 commercial lines markets, additional employee benefits capabilities, significant risk management resources and private client personal line expertise.
Risk Strategies formally launched its national professional practices group focused on architects and engineers in 2013. In addition to Prosurance Redeker, Risk Strategies has acquired several firms with specialty focus in professional liability for architects and engineers over the past four years. This includes Dallas-based McLaughlin-Brunson in 2016, Chicago-based MG Welbel & Associates in 2015 and Nashville-based Crow Friedman Group and New-Jersey-based Singer Nelson Charlmers in 2014.
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 40 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.