Risk Strategies, an insurance brokerage and risk management firm, has acquired Risk Management Advisors (RMA), a firm that designs and administers captive insurance programs and self-insured plans for companies in a variety of industries.
The acquisition strengthens Risk Strategies’ portfolio of alternative specialty capabilities, following its acquisition of Oxford Risk Management Group in July of 2018. Oxford’s captive expertise also built on Risk Strategies’ focus on offering clients alternative risk funding methods.
Wesley Sierk, president and co-founder of RMA, said: “Constructing a compliant captive insurance program and operating it for maximum effect is not a sideline task, it requires focus.”
RMA was founded by Sierk, Jarid Beck and Max Jong, and collectively has a team of advisors with over 50 years of specialised industry experience.
Mike Christian, founder and CEO of Risk Strategies, said: “Today’s dynamic business environment and shifting markets has fostered a strong interest in creative risk financing approaches.”
The terms of the deal were not disclosed.
Risk Strategies, Risk Management Advisors, Wesley Sierk, Jarid Beck, Max Jong, Mike Christian