Risk Strategies snaps up US surety specialist

US insurance brokerage and risk management firm  Risk Strategies has bolstered its surety practice with the acquisition of Bonds.

The surety bonds specialist is focused on the construction industry. Bonds helps maximize clients’ surety credit in providing bonds for government and municipal projects in the Baltimore and DC-metro area.

Based in Hunt Valley, Maryland, Bonds was founded in 1996 by its current president Michael Shaver. The firm helps clients in the construction industry secure performance and payment bonds for projects.

As part of  Risk Strategies, Bonds will gain access to new markets, enabling them to help existing clients with broader geographical footprints, including overseas operations.

Scott Popilek (pictured),  Risk Strategies Atlantic region leader, said: “Michael and his team are an excellent fit with the  Risk Strategies family and our specialist approach to risk. Their focused surety expertise has made them a valued part of their clients' business, and now they can leverage all the other insurance products and services of the  Risk Strategies family.”

Shaver added: “In today’s business environment, clients really benefit from a specialist approach. We saw in  Risk Strategies a true specialist who would understand the value we bring to clients, and joining the company gives us more options to help meet clients’ broader needs and expand our base of business.”

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