Risk International has acquired independent property and casualty insurance actuarial service Bartlett Actuarial Group.
According to Michael Davis, president and CEO of Risk International, the acquisition of Bartlett Actuarial Group expands the counsel of the outsourced risk management provider to both its Fortune 1000 and middle-market clients, while also enhancing its captive insurance company advisory services.
Founded in 1986, Risk International offers risk management, insurance claims mitigation, loss prevention, claims recovery and due diligence services, mostly to clients that have a total cost of risk of at least $5 million.
Its 2014 acquisition of Consolidated Risk Management in Cleveland allowed it to expand service capacity to the growing outsourced risk management needs of middle-market companies that earn $100 million or more in revenue and have a total cost of risk of at least $1 million.
"We're anxious to apply Bartlett's good counsel to captive insurance and mutual insurance companies to the growing needs of both our corporate and privately held clients," said David O'Brien, chairman of Risk International.
"Bill and Andrea Bartlett have built a great service reputation, and we're looking forward to teaming with their longtime partner Brian Johnson to grow it into new markets."
Johnson, now managing director of Bartlett Actuarial Group, will lead a staff of 13 who will continue to operate from offices in Charleston, South Carolina and Burlington, Vermont.
Risk International, with a staff of nearly 75, is the largest US firm of its kind. Headquartered in Fairlawn, Ohio, it serves clients from offices in Charlotte, Chicago, Cleveland, Columbus, Wilmington in Delaware, central Michigan, London and Singapore.
