BOSTON, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Risk Strategies, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced that it has acquired Weaver Brothers Insurance, Inc., a full-service  brokerage based in Bethesda, Maryland and one of the largest independent insurance brokerages in the Washington, D.C. area. Terms of the deal were not announced.

Founded in 1988 with roots dating back to 1888, Weaver Bros. is a well-established commercial brokerage with unique capabilities in servicing the insurance and risk management needs of public entities, particularly embassies and diplomatic risks. The firm’s professional staff averages 25 years of insurance industry experience, delivering an in-depth knowledge of risk issues and tailored solutions that have, in turn, fostered long-term client and carrier relationships.

“We believe businesses today need true specialists who understand their unique risks and can devise effective, innovative ways to manage them,” said John Mina, Risk Strategies’ CEO. “Weaver Bros. is a great addition to our portfolio in the Washington D.C. geography, bringing unique specialty capabilities and deep risk management expertise to complement our existing operations in the region. Their ability to build trust and long-term relationships is a terrific fit with our approach.”

In addition to its specialty work in embassy and diplomatic risk, Weaver Bros.’ business insurance division has established and grown practices in real estate and contractors, automobile dealers, and non-profits. Product lines for clients range from property and casualty and general liability to group benefits, workers’ compensation, and directors and officers liability, among others.

“Weaver Bros.’ longevity is due, in no small part, to evolving its practices to match business need, from specialty focus to technology adoption,” said Dick West, Weaver Bros.’ CEO. “We see becoming part of Risk Strategies as the best way to scale our specialist approach and deliver the new and deeper capabilities our clients and prospects are seeking.”

In pursuing its specialty capabilities strategy, Risk Strategies has steadily built its Mid-Atlantic footprint. In 2017, it acquired Cornerstone Professional Liability Consultants, a Philadelphia-based specialist in medical malpractice insurance for physicians and surgeons, and Baltimore-based Delmarva Surety, a specialist in the sale and servicing of surety bonds and commercial insurance. In 2018, Risk Strategies acquired Arkin-Youngentob Associates, a full-service employee and executive benefits firm headquartered in Bethesda, Maryland, and in 2019, added Personal Lines specialist Creative Insurance Solutions, with offices in Potomac, Maryland and Washington, D.C.

Both Weaver Bros. and Arkin-Youngintob have also been successful in building growing personal lines businesses based on the success and client loyalty established in their commercial lines practices. Risk Strategies, under the guidance of Practice Leader Bob Courtemanche – former Chairman, CEO and President of Ace Private Risk Services – has built one of the country’s most dynamic and respected national private client practices.

To learn more about Risk Strategies, click here.

About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 70 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco.

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Molly Powers
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