Risk Strategies has acquired the retail brokerage operations and assets of Pittston, Pennsylvania, headquartered Joyce Insurance Group. The sale includes Joyce Jackman Bell and Joyce Haggerty Bell.
Founded in 1955, Joyce Insurance Group serves clients across northeastern Pennsylvania, offering auto, home life, business, health and specialty insurance. Its industry expertise includes municipalities, schools, excavators, transit authorities, and public works-related firms.
The acquisition of Joyce Insurance Group represents a “solidification” of both Risk Strategies presence in Pennsylvania and its specialty capabilities in the region, the company said. Led by founder Joseph Joyce Senior’s three sons, the company provides products and services to over 9,000 clients and enjoys a 98% average client retention rate.
The terms of the deal were not announced.
It’s the latest acquisition by Risk Strategies, which announced the purchase of Florida-based employee benefits and risk services consultant The Gehring Group last week. Since its founding in 1997, Risk Strategies has added over 100 organisations to the group.
“We saw in the Joyce Insurance Group a firm that was a great match with our approach in both their consultative client engagement and industry specialisation,” said Scott Popilek, Risk Strategies managing director and Atlantic regional leader. “We believe their collaborative and specialised approach, matched with our firm’s expertise and capabilities, is a recipe for success.”
“When looking for a partner to scale our business, Risk Strategies’ specialty approach and collaborative culture really stood out,” said John Joyce, president of Joyce Insurance Group. “Like us, they clearly understood both the power of specialisation and how to work effectively across organisations to serve clients and win business.”
acquisition, Risk Strategies, Pittston, Pennsylvania, Joyce Insurance Group, Pennsylvania, insurance, reinsurance