Coverys has made a strategic acquisition of a minority stake in Strategic Risk Solutions (SRS).
Under the agreement, Coverys will have a representative on the SRS board but will have no day-to-day operational involvement.
SRS will benefit from Coverys to help expand its growing clients base.
Brady Young, president and CEO of SRS, commented: "Remaining independent is paramount to our business for both staff and clients alike.”
"Coverys's investment provides us with not only an effective option to perpetuate our independence but a tremendous opportunity to build on what we have developed. Like SRS, Coverys has a long-term perspective and is very focused on building strong relationships with its clients."
Gregg Hanson, Coverys CEO and president, added: "We are excited to have an ownership stake in SRS which we view as the premier captive management firm.”
"Our investment will ensure continued access to SRS' expertise for Coverys clients interested in using captive insurance options as part of their overall risk financing strategy."
