Risk Strategies launches consulting and actuarial business

New unit combines the offerings of several recent acquisitions

Risk Strategies launches consulting and actuarial business

Mergers & Acquisitions

By Ryan Smith

Specialty insurance brokerage and risk management firm Risk Strategies has announced the launch of a national consulting and actuarial services business.

Risk Strategies Consulting will be headed by John Greenbaum, executive vice president at Risk Strategies. It unifies into a single business segment the offerings of several consulting and actuarial firms acquired by Risk Strategies over the past four years, including Corporate Benefit Audits, United Health Actuarial Services, Centric Actuarial Solutions, Cambridge Advisory Group, and Aquarius Capital Solutions.

“As operations and risk become more dynamic and complex, leveraging data to drive smarter business decisions is paramount,” Greenbaum said. “Bringing our industry-leading consulting teams under one umbrella creates a powerhouse of specialty expertise to help clients better understand their risks and potential costs, ultimately leading to highly effective strategies that reduce clients’ costs and manage their overall risk.”

Risk Strategies Consulting will operate independently of Risk Strategies’ brokerage business to ensure full business separation of clients and autonomy of consulting, the company said. The consulting business will provide services including high-touch consulting, analytics, strategy and consulting (encompassing health and welfare with special pharmacy expertise, as well as M&A), actuarial services for plan sponsors, providers and insurers, and benefit audit services.

Risk Strategies Consulting will serve clients across a range of industries, including government entities, manufacturing and distribution, self-insured organizations, healthcare organizations, national and regional insurance companies, and private equity firms.

The announcement comes as RIsk Strategies continues to expand. Last month, the company acquired Texas-based Wallace Specialty Insurance Group. In September, it snapped up Missouri-based Beattie & Associates.

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