Risk Strategies has acquired Thomas McGee Group (TMG), a full-service brokerage based in Missouri. Terms of the deal were not disclosed.
TMG is a firm with specialty capabilities for large accounts, group and single parent captives, in addition to risk management services. It has been in business for more than 100 years and is one of the preeminent insurance brokerages in the Midwest, a release said.
Through its third-party administrator group, TMG provides loss adjustment services, which include claims management processes and loss control and safety programs for self-insured customers. The group serves a variety of market segments, such as including hospitals, colleges, school districts and municipalities.
TMG also maintains a surety business, underwriting customized programs for the construction industry. Apart from its headquarters in Kansas City, MO, TMG has offices in St. Louis, MO.
“In a very active acquisition market, we remained focused on bringing on board only those firms with a culture and expertise focus that will advance our goal of becoming a best-in-class specialty brokerage,” explained Risk Strategies CEO John Mina. “We saw in Thomas McGee Group’s long history, loyal client base and expertise, particularly in alternative risk structures, a direct fit with our direction and philosophy.”
“With over 100 years of history, reputation and success, ensuring our clients and business could thrive in the future was the main focus in finding a national-scale partner,” said TMG managing partner Doug Joyce.
Joyce commented that becoming part of Risk Strategies offered the “best path forward” for his team, especially thanks to Risk Strategies’ focus on specialization and its flat national-scale operating structure.