Risk Strategies acquires employee benefits brokerage Craford

Insurance brokerage and risk management firm Risk Strategies has acquired California-based employee consulting and benefits brokerage Craford Benefit Consultants. The deal expands its geographic footprint and builds expertise in complex cases and financial modelling.

Craford is headquartered in San Rafael, California with offices in Portland, Oregon and Charlotte, North Carolina. Craford specialises in helping large employers solve complex business problems that revolve around benefit programmes and their financing, including the strategic utilization of stop-loss and reinsurance coverage to precisely balance risk, exposure and cost.

“For employers and end users, traditional health insurance is largely broken, and we’ve seen tremendous interest in alternative approaches to structuring and funding employee benefits plans,” said John Greenbaum, national employee benefits practice leader, Risk Strategies. “We see Craford’s capabilities in these areas as a great fit for our practice, our clients and the times.”

Mike Craford, managing principal, Craford Benefit Consultants, said: “We were attracted to Risk Strategies based on its culture, laser focus on clients and commitment to growing its brand. Their teaming structure and national reputation for technical expertise is a natural fit for our approach to collaborating with clients and carriers and managing risk. This combination will reap huge benefits for our customers and our employees and allow us to further expand our national penetration.”

The acquisition will also add to Risk Strategies’ employee benefits HR consulting capabilities, the company said.

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