US-based specialty brokerage Risk Strategies has acquired Comprehensive Benefits and Gabrielson Insurance & Financial Services, both located in the Greater Detroit area.
The financial terms of the deals were not disclosed.
Go deeper with GlobalData
Through this acquisition Risk Strategies aims to bolster its presence in the region and offer clients of the acquired companies access to specialty practices and services.
Set up in 1989, Southfield, Michigan-headquartered Comprehensive Benefits provides employee benefits services for fully insured and self-funded programmes.
Its offerings include medical coverage, large group benefit planning, personal life insurance and long-term care solutions.
Comprehensive Benefits president Mike Embry said: “Joining Risk Strategies is the right move for our organisations, our people and our clients.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataGabrielson Insurance & Financial Services has a complementary focus, offering similar services in employee benefits.
The client organisations of Gabrielson Insurance are similar in size, scope, and industry to those of Comprehensive Benefits, and there are synergies among the players, the company said.
With Comprehensive Benefits and Gabrielson joining, Risk Strategies aims to create new opportunities for clients of both businesses to leverage 30 specialty practices and capabilities, while preserving a personalised approach.
Gabrielson Insurance founder Phil Gabrielson stated: “We saw this as a great opportunity to formally bring our organisations together under the umbrella of a specialty organisation with the capabilities to open new possibilities for our clients and people.”
Risk Strategies National employee benefits practice leader John Greenbaum said: “This acquisition represents a unique opportunity to bring in an existing business partnership and add real specialty talent to our practice.”
Risk Strategies central region leader Steve Giannone said: “It’s great to have Mike and Phil and their teams aboard as we build out our footprint and benefits expertise in Michigan and the upper Midwest.”
In February 2024, Risk Strategies acquired the Ralph C. Wilson Agency.
This was followed by the acquisition of assets of Cornerstone Broker Insurance Services Agency and ARC Benefit Solutions in November 2024.
