Risk Strategies has acquired Risk Management Advisors (RMA), a California-based leader in developing, designing and administering captive insurance programmes and self-insured plans.
RMA operates nationally helping companies and organisations in a variety of industries develop innovative alternative approaches to managing their risks, protecting their operations, and reducing their overall cost of risk.
Client industries that RMA serves range from manufacturing, trucking, and contractors to auto finance, staffing, restaurant groups, and commercial property owners, among many others.
Under the leadership of R. Wesley Sierk III, Jarid Beck and Max Jong, RMA has an industry reputation for creativity and administration of captive insurance programmes, as well as in developing programmes for the self-funding of benefits and workers compensation insurance.
The acquisition of RMA strengthens the firm’s portfolio of alternative speciality capabilities.
In July last year, Risk Strategies announced it had acquired Sparks, Maryland-based Oxford Risk Management Group, who’s captive expertise built on Risk Strategies’ historic focus on offering clients alternative risk funding methods.
Wesley Sierk, president and co-Founder, RMA, said: “Risk Strategies’ understands that speciality focus is what brings clients real value, which makes it a perfect partner as we seek to grow.”
Mike Christian, founder and CEO, Risk Strategies, added: “We’re excited to bring aboard the RMA team and their deep expertise in alternative risk.”
Terms of the deal were not disclosed.