Risk Strategies Acquires Centric Actuarial Solutions, LLC

Expanding Actuarial Services and Specialty Client Services

Boston, Massachusetts, UNITED STATES


BOSTON, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced it has acquired property and casualty actuarial consulting firm Centric Actuarial Solutions, LLC. Terms of the deal were not announced.

Based in Overland Park, Kansas, Centric helps clients in a wide variety of industries understand and assess their cost of risk. It has a specialty focus on organizations employing alternative risk programs and approaches, including captives and risk retention groups. This marks Risk Strategies’ second actuarial services firm buy, following the 2019 purchase of employee benefits analysis specialist United Health Actuarial Services.

“Risk Strategies knows specialty knowledge is vital to client success,” said John Scroope, Risk Strategies’ National Director of Retail Operations. “As our clients’ operations and risks become more complicated, having seamless access to Centric’s specialized actuarial capabilities will present them with meaningful insights that create new possibilities, deepening our value and partnership.”

Founded in 2005 by Dustin Gary, Centric’s expertise is grounded in the firm’s hands-on experience in personal and commercial insurance, reinsurance, and the brokerage industry. Centric clients include governmental entities, retail and restaurant businesses, self-insured organizations including corporations and trusts, healthcare organizations, regional insurance companies and private equity firms, among others.

“Effectively understanding risks and their potential costs in today’s hyper-connected world requires specialized expertise,” said Gary. “That focus on specialization has made Centric successful, and it’s what makes our organization a great fit for Risk Strategies and its specialist approach to risk.”

Service capabilities range from evaluation of liabilities, reinsurance and retention analysis, and benchmarking of expenses, losses and other claim statistics to providing potential captives or risk retention groups with loss forecasts prior to formation, as well as performing loss reserve studies and providing reserve opinions once an entity has started writing business. Centric assists insurers with market research, competitive analysis, and reinsurance program design, and its team also works in partnership with accounting firms performing audits, examining premium and loss reserves to assure that liabilities have been established using generally accepted actuarial principles.

Centric applies its analytical expertise across a range of risk and liability products and issues: from traditional lines of insurance including workers’ compensation, auto, and general liability, to specialty areas such as medical malpractice, construction defects, and warranty coverage, among many others.

Working with private equity groups, Centric’s experts provide insight during the due diligence phase for mergers and acquisitions, delivering liabilities evaluations critical in determining the value of insurance companies and other organizations that retain significant loss reserves.

To learn more about Risk Strategies, click here.

About Risk Strategies
Risk Strategies is a specialty national insurance brokerage and risk management firm offering comprehensive risk management advice and insurance and reinsurance placement for property & casualty, and employee benefits risks. With 25 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top brokers in the country, Risk Strategies has offices located nationwide including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. www.risk-strategies.com

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