In a move to consolidate its presence in Chicago and improve the capabilities of its professional liability practice, Risk Strategies Company (RSC) acquired M.G. Welbel & Associates.
Terms of the deal were not made public.
M.G. Welbel & Associates (MGW) is a Northbrook-based professional liability insurance specialty broker that caters particularly to lawyers, architects, engineers, surveyors, and other similar design professionals.
"We've built one of the most highly-skilled professional liability insurance specialty brokers in the Chicago-area," said MGW president Michael G. Welbel. "Joining Risk Strategies creates an organization with unmatched expertise in the Midwest region and gives clients access to more carriers, better programs and new ways of cost-effectively managing their risk."
Last May, Risk Strategies acquired Northwest Comprehensive in Chicago, a firm whose expertise in employee benefits and higher education practice has helped expand RSC’s portfolio.
RSC first established itself in the Midwest area in 2007 with its initial location in Northfield, IL. Since then, the company has tripled in size.
Nationally, RSC operates more than 18 offices throughout the country.
On October, RSC announced a considerable investment by its new majority owner Kelso & Company to develop its national practices and accelerate its development in select areas such as the Midwest.
