Risk Strategies, a US national insurance brokerage and risk management firm, has announced the acquisition of a California-based employee consulting and benefits brokerage. Terms of the deal were not disclosed.
The acquired firm, Craford Benefit Consultants, is headquartered in San Rafael, Calif., and has offices in Portland, Ore., and Charlotte, N.C. Craford specializes in helping large employers solve benefit problems that revolve around benefit programs and their financing.
“We were attracted to Risk Strategies based on its culture, laser focus on clients and commitment to growing its brand,” said Mike Craford, managing principal of Craford Benefit Consultants. “Their teaming structure and national reputation for technical expertise is a natural fit for our approach to collaborating with clients and carriers and managing risk. This combination will reap huge benefits for our customers and our employees, and allow us to further expand our national penetration.”
“For employers and end users, traditional health insurance is largely broken, and we’ve seen tremendous interest in alternative approaches to structuring and funding employee benefit plans,” said John Greenbaum, national employee benefits practice leader for Risk Strategies. “We see Craford’s capabilities in these areas as a great fit for our practice, our clients and the times.”
The acquisition will add to Risk Strategies’ employee benefits HR consulting capabilities, the company said.