Risk International acquires Bartlett Actuarial Group
Risk manager Risk International has acquired actuarial and risk management consulting firm Bartlett Actuarial Group as it seeks to boost its captive insurance services.
According to Michael Davis, president and chief executive officer, the acquisition of Bartlett Actuarial Group expands the counsel of the outsourced risk management provider to both its Fortune 1000 and middle market clients, while also enhancing the outsourced risk manager's captive insurance company advisory services.
Founded in 1986, Risk International offers risk management, insurance claims mitigation, loss prevention, claims recovery and due diligence services to mostly Fortune 1000 clients that have a total cost of risk of at least $5 million.
Its 2014 acquisition of Consolidated Risk Management in Cleveland allowed it to expand service capacity to the growing outsourced risk management needs of middle market companies that earn $100 million or more in revenue and have a total cost of risk of at least $1 million.
"We're anxious to apply Bartlett's good counsel to captive insurance and mutual insurance companies to the growing needs of both our corporate and privately held clients," said David O'Brien, chairman. "Bill and Andrea Bartlett have built a great service reputation, and we're looking forward to teaming with their longtime partner Brian Johnson to grow it into new markets."
Johnson, now managing director, will lead a team of 13 who will continue to operate from offices in Charleston and Burlington, Vermont.