Risk Strategies acquires Thomas McGee Group
Risk Strategies, a privately held US insurance brokerage and risk management firm, has acquired Thomas McGee Group (TMG), a Missouri-based full-service brokerage with specialty capabilities for large accounts, group and single parent captives, and focused risk management services. Terms of the deal were not announced.
A key Midwest’s preeminent insurance brokerage and risk management, TMG has been in business for over a century. Headquartered in Kansas City, Missouri, the firm also maintains offices and operations in St. Louis, Missouri.
“In a very active acquisition market, we remained focused on bringing on board only those firms with a culture and expertise focus that will advance our goal of becoming a best-in-class specialty brokerage,” said John Mina, Risk Strategies’ chief executive officer. “We saw in Thomas McGee Group’s long history, loyal client base and expertise, particularly in alternative risk structures, a direct fit with our direction and philosophy.”
In its employee benefits and commercial lines business, TMG has considerable expertise in group captive insurance programs, having been in the alternative risk transfer space since the 1980s. TMG has formed and manages self-insured pools as well as placements for excess programs, loss portfolio transfer programs, claim reserve analysis, programs for individual clients and other alternative risk financing and management strategies.
“With over 100 years of history, reputation and success, ensuring our clients and business could thrive in the future was the main focus in finding a national-scale partner,” said Doug Joyce, managing partner, TMG. “Becoming part of Risk Strategies, with its focus on specialization, deep resources and unique, flat national-scale operating structure, offered the best path forward for our business and clients.”
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