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BOSTON, July 22, 2019 (GLOBE NEWSWIRE) -- At a time of great uncertainty for employers amid looming federal policy changes, Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced it has added to the expertise of its employee benefits practice with the acquisition of Gerard B. Tracy Associates, Inc. Terms of the deal were not disclosed.
Based in Fairfield, Connecticut, Gerard B. Tracy Associates, Inc. was founded in 1948 and has a decades-long history of creating employee benefits programs for a variety of public and private entities with a specialty focus on institutions of higher education.
“Risk Strategies was founded on the belief that specialization and expertise are required to win and keep business, because clients are facing complex, costly challenges,” said John Greenbaum, Risk Strategies’ National Employee Benefits Practice Leader. “Gerard B. Tracy Associates has endured and thrived, because they can deliver that type of expertise. It’s a great fit.”
In addition to developing benefit programs for higher education and other types of educational institutions, Gerard B. Tracy Associate’s clients include a number of general and nonprofit organizations, largely located throughout the Northeast.
“We know the power of specialization and expertise coupled with truly understanding clients’ needs and the complexity of their own business operations,” explained Tim Tracy, Jr., Vice President, Gerard B. Tracy Associates, Inc. “Joining a true specialty brokerage firm like Risk Strategies is a perfect way to connect our clients with additional resources, while opening new paths to grow our business.”
In recent years, Risk Strategies has built up one of the country’s most experienced and technically capable employee benefits practice groups. Acquisitions made by the firm have brought on board experts from independent specialty agencies and brokerages, focused exclusively on employee health and welfare program challenges, as well as from firms specializing in alternative financing, including self-funding, and the formation and management of captives. The company has further expanded its benefits reach with the acquisition of service businesses, including an actuarial firm and a healthcare claims auditing organization.
To learn more about Risk Strategies’ employee benefits practice, click here.
About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 70 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco.