Beach enters accident & health reinsurance market with US acquisition

Independent re/insurance advisory and broking firm Beach & Associates has acquired Atlanta-based accident & health (A&H) reinsurance brokerage firm, Risk and Insurance Consulting Services (RICS).

RICS, established in 1997, will become part of Beach Re and will operate as its A&H division, under the Beach brand, effective December 1 2019.

The RICS management team, comprised of founder and CEO, Richard (Rick) Ritchie, vice president, Jamie Brown and program & treaty services manager, Tammy Chambers, will all remain following the completion of the transaction. This team has extensive experience in the re/insurance industry and has been servicing the US A&H insurance markets for over 20 years.

Simon Hedley, president and CEO of Beach North America said: “Bringing Rick Ritchie and his well-respected team to Beach is an excellent opportunity for us to expand into the accident and health reinsurance arena. It also gives us a new level of expertise in the medical insurance world that will add significant value to the substantial Acrisure employee benefits operation.”

Rick Ritchie, president of RICS added: “We are excited to be part of Beach and the wider Acrisure group, and look forward to developing the A&H division of Beach Re. For 22 years, RICS has prided itself on the level of individual service given to its MGU and insurance company partners. We offer reinsurance placement and administration services in the accident and health arena, from medical excess reinsurance to alternative risk programs and see multiple synergies and opportunities both within Beach and the wider Acrisure group.”