Risk Strategies acquires Atlas Insurance Management
Risk Strategies has acquired Atlas Insurance Management, a company involved in the formation and management of captive insurance companies, as part of its purchase of Atlas Group and its affiliated entities.
The terms of the deal have not been made public.
Atlas was founded in 2002 and manages captive insurance entities, forms and operates a number of its own insurers and protected cell companies (PCC). It also makes cells available to captive clients and offers fronting and pooling reinsurance services.
John Mina, chief executive of Risk Strategies, said: “As traditional insurers become more selective in their coverage and premiums rise, innovative alternatives such as captives are increasingly important in creating cost-effective ways to manage and mitigate client risk.”
The Atlas acquisition gives Risk Strategies both onshore and offshore capabilities and a presence in multiple domiciles. It now has licenses in ten US jurisdictions and its first operating presence outside of the US.
Martin Eveleigh, Atlas’ founder and chairman, said: “Alternative approaches to managing the cost of risk are increasingly necessary in today’s evolving world of business,”
Risk Strategies has recently acquired Risk Management Advisors and Oxford Risk Management Group. With the addition of Atlas it is now involved with over 1000 captive programs.