Risk Strategies Company, a privately held, national insurance brokerage and risk management firm based in Boston, announced that it has acquired Lester Brokerage, an independent agency in Englewood Cliffs, New Jersey. Terms of the transaction were not disclosed.
Founded in 1955, Lester Brokerage specializes in personal insurance and risk management services for affluent, high-net-worth clients. Its offerings include homeowners insurance, excess liability/umbrella, collections (jewelry, art, antiques, furs, silver, wine, collectibles), auto, boat and aircraft.
Lester Brokerage will maintain its Englewood Cliffs location and operate under the name Lester Brokerage, a Risk Strategies company. Lester Brokerage’s President Michael R. Elitzer and the agency’s staff will join Risk Strategies as part of the transaction. Elitzer will become Risk Strategies’ senior vice president and will continue to lead the Lester Brokerage operations.
Risk Strategies said the acquisition would further expand Risk Strategies’ Private Client practice, which focuses on insurance and risk management services for affluent and high-net-worth clients.
Risk Strategies offers risk management advice and insurance placement for property/casualty, healthcare and employee benefits risks, serving commercial companies, non-profits, public entities and individuals. The firm has offices in more than 20 locations across the U.S. and more than 550 employees.