29 January 2020USA analysis

Risk Strategies acquires brokerage specialising in public sector insurance

Risk Strategies has acquired Weaver Brothers Insurance, a Maryland-based brokerage.

Weaver Brothers has a particular focus on servicing the insurance and risk management needs of public entities, particularly embassies and diplomatic risks. Its business insurance division has also established practices in real estate and contractors, automobile dealers, and non-profits.

Product lines for clients range from property and casualty and general liability to group benefits, workers’ compensation, and directors and officers liability, among others. Its professional staff have an average of 25 years of insurance industry experience.

The terms of the deal were not disclosed.

John Mina, CEO of Risk Strategies, said the insurance industry needs specialists “who understand their unique risks and can devise effective, innovative ways to manage them.

Dick West, Weaver Bros.’ CEO, said the broker’s longevity is largely the result of its ability to evolve its business to match the needs of its clients, whether that is its specialty focus or technology adoption.

“We see becoming part of Risk Strategies as the best way to scale our specialist approach and deliver the new and deeper capabilities our clients and prospects are seeking,” West added.