US insurance brokerage and risk management firm Risk Strategies is continuing its acquisition spree with the purchase of Oxford Risk Management Group, an alternative risk, captive insurance and consulting firm, it was revealed today.
Oxford Risk Management was established in 2010 and is based in Maryland, US, specializing in conducting captive feasibility analysis and coordination and management of captive insurance company arrangements, both domestically and internationally.
“Creating and managing captive structures goes back to the earliest days of Risk Strategies, which started primarily as a risk management consultancy to help organizations identify, understand and manage their business risks,” commented Mike Christian, founder and CEO of privately-held Risk Strategies.
“Bringing on the team at Oxford will provide a valuable resource for alternative and enterprise risk management for existing and prospective clients across our specialized practices,” he said.
Oxford Risk Management, which is led by founding principals Michael DiMayo and Kevin Myers, will see its brand and team continue to “operate as usual” under the deal.
“Captive structures are uniquely able to accommodate a broad range of specialized enterprise risks that today’s rapidly evolving business world needs managed to safeguard success,” commented DiMayo.
“Becoming part of Risk Strategies, an organization that understands from its founding days the client benefit of a smartly structured captive, made sense as we looked for ways to extend the reach of our operations,” he said.
Risk Strategies has completed a string of acquisitions in recent months, including that of Cincinnati Intermediaries LLC, a specialty wholesale brokerage and MGU focused on risk management and insurance for management and professional liability.
Terms of the latest deal were not disclosed.