Risk Strategies buys rival brokerage to sharpen focus on core offering

US specialty insurance brokerage and risk management firm  Risk Strategies has acquired a California-based rival brokerage in a deal that will add key capabilities to its national education practice, as it looks to sharpen focus on its core product offerings.

The company has bought Relation Education Solutions from Relation Insurance Services, which offers student health plans, international benefits, faculty and staff benefits, and cultural exchange health plans. Relation provides insurance brokerage and programme administration services for more than 950 colleges and universities across the country.

Terry Lyons, Risk Strategies higher education practice leader, said: “Risk Strategies is focused on creating practice groups that deliver the unmatched, technical, and industry expertise clients need to navigate today’s complex risks. The acquisition of Relation Education Solutions significantly solidifies and extends the capabilities of our National Education Practice.”

Timothy Hall, executive vice president, added: “With Relation’s continued growth of its national insurance brokerage footprint across property, casualty, and employee benefits insurance solutions, we believe the Relation Education Solutions business is best situated for growth with Risk Strategies’ National Education Practice. This move sharpens Relation’s strategic focus back to our core insurance product offerings and client-oriented solutions.”

In 2017, Risk Strategies acquired student health plan specialist University Health Plans, building on that in 2020 with the acquisition of Academic Health Plans. In 2021, it acquired Specialty Insurance Solutions, with capabilities in student health, sports accident, and travel insurance.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.