6 April 2023Analysis

Risk Strategies acquires insurance placement firm MB&C

Risk Strategies has announced it has acquired May, Bonee & Clark Insurance (MB&C), a Connecticut-based firm providing insurance placement, financial services and risk management advice.

The terms of the deal were not announced.

Formed through the merger of May, Bonee & Co. and the Clark Agency, MB&C has provided tailored insurance placement to businesses and individuals, as well employee benefits programs, corporate retirement planning and asset management, financial and wealth planning services, in the Greater Hartford area for over 35 years. The firm is now based in Glastonbury, Connecticut and led by its principals, Tom and Daniel Clark and Ryan Friedman.

“Our focus when evaluating a potential partner to expand our capabilities is primarily on the firm’s culture and commitment to expert knowledge in service to its clients,” said Edward Flanagan, New England regional leader at Risk Strategies. “The team at MB&C clearly hit that mark - great people doing smart work for an incredibly loyal customer base. I’m excited to have them joining the Risk Strategies family.”

MB&C deals with the placement of insurance coverages ranging from life, home and auto for private clients, to builders' risk, commercial general liability, workers compensation and more for businesses. The firm also offers extensive capabilities in the creation of employee benefits programs for businesses, from design and installation to daily servicing, across fully insured, self-insured and partially self-funded alternatives.

“Insurance, financial planning and risk management have become increasingly complex,” said Tom Clark, partner at MB&C. “Becoming part of a national scale, true specialty firm like Risk Strategies makes perfect sense given the many benefits that will accrue to our clients.”