Risk Strategies acquires Maryland-based captive manager Oxford Risk
US insurance broker Risk Strategies has agreed to acquire Oxford Risk Management Group, a Maryland-based provider of alternative risk and captive insurance services.
Oxford Risk was established in 2010, and specialises in conducting captive feasibility analysis, coordination and management of turn-key captive insurance company arrangements, both domestically and internationally. It is led by its founding principals, Michael DiMayo and Kevin Myers.
“Creating and managing captive structures goes back to the earliest days of Risk Strategies, which started primarily as a risk management consultancy to help organisations identify, understand and manage their business risks,” said 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 specialised practices.”
Following the deal, the Oxford brand and team will operate as usual.
Michael DiMayo, principal at Oxford Companies, added: “Captive structures are uniquely able to accommodate a broad range of specialised 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 organisation 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.”