Risk Strategies strengthens employee benefits practice with acquisition

Risk Strategies, a privately held insurance brokerage and risk management firm, has acquired Gerard B. Tracy Associates.

Based in Fairfield, Connecticut, Gerard B. Tracy Associates creates employee benefits programs for a variety of public and private entities, with a specialty focus on institutions of higher education.

Terms of the deal were not disclosed.

John Greenbaum, national employee benefits practice leader at Risk Strategies, said the match up was a great fit because both believe in the importance of specialisation and expertise when it comes to winning and keeping business.

Tim Tracy, vice president of Gerard B. Tracy Associates, said: “Joining a true specialty brokerage firm like Risk Strategies is a perfect way to connect our clients with additional resources, while opening new paths to grow our business.”

Risk Strategies has been consciously building up its employee benefits practice groups in recent months. A year ago it acquired Oxford Risk Management Group, a Maryland-based provider of alternative risk and captive insurance services.