Alera Group, a US-based employee benefits, risk management, and wealth management firm, has acquired Orion Risk Management Insurance.
The terms of the transaction were not disclosed.
Orion offers a range of insurance services, including property and casualty, workers’ compensation, employee benefits, and captive solutions.
The transaction is not Alera Group’s first movement in the captive space this year, and this new acquisition follows the acquisition of Spring Consulting Group in February.
Formed in 2017 by merging 24 firms across the US, Alera Group has grown into the seventh largest privately held employee benefits firm and the 15th largest privately held multi-line insurance agency in the US.
Clifford Davis, managing partner of Orion, said the company was looking forward to continuing to “elevate the client experience with the national resources” available to them as an Alera Group company.
Davis added: “Our ultimate goal is to serve our clients with industry-leading tools and service, and as part of Alera Group, we will be able to do that more than ever before.”
Alera Group CEO Alan Levitz commented: “We are thrilled to welcome Orion to Alera Group, and we look forward to their valuable contributions to our collaborative culture.”
“Their remarkable industry experience and powerful team strengthens both our property and casualty practice and our benefits practice.”