Risk Strategies merges with entertainment broker
US broker Risk Strategies has merged with entertainment broker DeWitt Stern in a move that pushes the combined organisation into the top 35 brokers nationally.
Founded in 1899, DeWitt Stern specialises in entertainment, fine art, private client, benefits and risk management.
Risk Strategies specialises in property, casualty and employee benefits, with several client specialty areas including higher education, real estate, environmental, professional liability, private equity, construction and healthcare.
Jolyon Stern will remain as chairman of DeWitt Stern and will be appointed vice chairman of the board of Risk Strategies, joining chief executive officer and founder of Risk Strategies Michael Christian and chairman Roger Egan.
Risk Strategies will retain the DeWitt Stern name and the existing management teams of both firms will remain in place.
“DeWitt Stern is an iconic name in insurance and we’re honoured to have Jolyon Stern and his team join our firm,” said Christian. “They bring strategic significance in burgeoning growth areas, including entertainment, private client personal lines, fine arts, and real estate. Together, we expect to add meaningful talent and technical expertise further strengthening the value that both firms bring to their clients.”
Stern added: “As we’ve gotten to know Risk Strategies Company, we’ve come to understand just how powerful this combination will be for our clients, employees and trading partners.
“DeWitt Stern and Risk Strategies were both founded as privately-held companies with a keen focus on client service. Blending the organisations strengthens our resources, particularly with risk management clients, enhances our real estate, employee benefits, and private client practices, and provides significant opportunities for our employees. I believe this will solidify our status as a leading, national insurance brokerage firm in the coming century.”
