Risk Strategies Acquires Ohio’s Benefits Network Insurance Agency

Risk Strategies Co., a privately held national insurance brokerage and risk management firm, has acquired Benefits Network Insurance Agency (BNIA), a specialist brokerage focused on the development of employee benefits plans. Terms of the deal were not disclosed.

Headquartered in Cincinnati, Ohio, with additional offices in Dayton, BNIA was founded in 1989 by Phil DiCiero as a wholesale broker providing services to the small group business of Blue Cross Blue Shield’s independent agents. BNIA added its own retail service capability in 1993 and its business today is almost equally balanced between retail group insurance sales and wholesale brokerage.

In building out its wholesale business, the company expanded its footprint to represent Anthem Blue Cross Blue Shield, Humana, Medical Mutual of Ohio, United Healthcare, Principal Financial and Aetna.

In addition to BNIA, Risk Strategies recently acquired three brokerages with benefits specialty focuses, specifically: Mosse & Mosse, located north of Boston; Tikia Consulting, just outside New Orleans; and TSG Financial on Long Island, New York.

Risk Strategies has offices in more than 45 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.

Source: Risk Strategies Co.

Topics Mergers & Acquisitions Agencies Ohio