US-based insurance broker Risk Strategies has acquired UNIRISC, a Virginia-based relocation insurance and risk management firm, for an undisclosed price.
Headquartered in Arlington, the acquired firm caters to corporate personnel and private individuals moving within and outside the US.
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Its clients include fortune 100 companies spanning the automotive, financial, pharmaceutical, insurance, service, manufacturing, communications, technology, and relocation industries.
The claims and relocation assistance offered by the company are tailored to mitigate the risk and complexity of relocation.
The acquisition is expected to bolster Risk Strategies’ footprint in the Washington DC region.
UNIRISC president and CEO Ken McClinton said: “UNIRISC is a true specialist in a very unique, complex, and demanding market.
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By GlobalData“Risk Strategies’ approach, leading with specialized knowledge and technical expertise, is a natural fit for us and will be a great operation to help us amplify and multiply the specialty capabilities, knowledge and partnerships we’ve built up over decades.”
UNIRISC’s business is organised in two divisions, insurance brokerage and third-party administrator.
The brokerage division offers customisable coverage for vacant homes, household goods, and others globally.
Its third-party administrator unit uses technology to manage and optimize the claims process for self-insured relocation clients.
Risk Strategies CEO John Mina said: “As a firm focused on providing clients with truly specialized expertise, we saw adding UNIRISC’s unique capabilities to the Risk Strategies arsenal as a big win for our clients and business.
“They’ve built a national operation that can quickly mesh with our operations to deliver real value.”
Risk Strategies acquisitions:
Earlier this month, Risk Strategies acquired Transport Risk Management, a specialist in aviation-related insurance and risk management.
In December last year, Risk Strategies acquired two of Gowrie Holdings subsidiaries, Maritime Program Group and Gowrie Group for an undisclosed amount.
In the same year in November, Risk Strategies has purchased Missouri-based Thomas McGee Group (TMG) for an undisclosed amount.
In the same month, Risk Strategies purchased Zito Insurance Agency and specialty brokerage firm Dash & Love for an undisclosed sum.
In August, Risk Strategies purchased National Insurance Consulting Group, employee benefits and human capital consulting firm.
