Risk Strategies Acquires Maryland’s Weaver Brothers Insurance

Risk Strategies, a Boston, Mass.-based, privately held national insurance brokerage and risk management firm, has acquired Weaver Brothers Insurance Inc., a full-service brokerage based in Bethesda, Md. Terms of the deal were not announced.

Founded in 1988 with roots dating back to 1888, Weaver Bros. is a commercial brokerage with capabilities in servicing the insurance and risk management needs of public entities, particularly embassies and diplomatic risks.

In addition to its specialty work in embassy and diplomatic risk, Weaver Bros.’ business insurance division has practices in real estate and contractors, automobile dealers and non-profits. Product lines for clients range from property and casualty and general liability to group benefits, workers’ compensation and directors and officers liability, among others.

In pursuing its specialty capabilities strategy, Risk Strategies has built its Mid-Atlantic footprint. In 2017, it acquired Cornerstone Professional Liability Consultants, a Philadelphia-based specialist in medical malpractice insurance for physicians and surgeons, and Baltimore-based Delmarva Surety, a specialist in the sale and servicing of surety bonds and commercial insurance.

In 2018, Risk Strategies acquired Arkin-Youngentob Associates, a full-service employee and executive benefits firm headquartered in Bethesda, Md., and in 2019, added personal lines specialist Creative Insurance Solutions, with offices in Potomac, Md., and Washington, D.C.

Source: Risk Strategies

Topics Mergers & Acquisitions Maryland