Risk Strategies, a privately held national insurance brokerage and risk management firm, has announced the acquisition of Zito Insurance Agency, a full-service firm headquartered in Mentor, Ohio. Terms of the transaction were not disclosed.
Founded in 1963, Zito provides property-casualty and life and health insurance services to individuals and businesses across several industries. In addition to its Mentor headquarters the firm maintains an office in Rocky River, Ohio.
“As we build out our capabilities, we are always seeking firms with a track record of excellence in cultivating deep client relationships through superior work,” said John Mina, CEO of Risk Strategies. “Zito’s consultative approach to building client solutions and their loyal client base were both strong indicators they’d be a great fit for us.”
Zito’s largest clients have been with the firm for an average of 15 years, and many have been with Zito for 25 years or more, Risk Strategies said. Zito serves industries ranging from broadcasting to real estate, and also has a 35-year history serving the non-profit sector.
“Given Zito’s long history in the region, perpetuating and scaling the business required a partner that could preserve our client-centric, high-touch approach,” said Chris Zito, president of Zito Insurance Agency. “Risk Strategies was clearly the best fit for both our people and our clients as we sought to ensure a secure, beneficial path forward for our business.”
Risk Strategies first entered Ohio in 2017 with the acquisition of Brightstone, a Cleveland-based agency specializing in next-day delivery and courier businesses. In 2018, Risk Strategies acquired Cincinnati Intermediaries, a specialty wholesale brokerage and managing general underwriter focused on professional liability, and Benefit Network Insurance Agency, both based in Cincinnati.