Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Thomas McGee Group (TMG), a Missouri-based full-service brokerage with specialty capabilities for large accounts, group and single parent captives, and focused risk management services.
Terms of the deal were not announced.
In business for more than 100 years and headquartered in Kansas City, TMG also maintains offices and operations in St. Louis.
In its employee benefits and commercial lines business, TMG has specialty in group captive insurance programs, having been in the alternative risk transfer space since the 1980s. TMG has formed and manages self-insured pools as well as placements for excess programs, loss portfolio transfer programs, claim reserve analysis, programs for individual clients and other alternative risk financing and management strategies.
In its third-party administrator (TPA) group, TMG provides loss adjustment services, including claims management processes and loss control and safety programs for self-insured customers, across a variety of market segments, including hospitals, colleges, school districts and municipalities.
The firm also enjoys a national reputation in the surety business, underwriting customized programs for the construction industry. In this segment of their business, TMG draws on extensive knowledge of both the surety underwriting process and the complexities of the construction industry to negotiate customized programs that meet specific client needs.
In-house safety and loss control capabilities help TMG clients identify and mitigate risks that could affect their people, operations and property and liability risks. For many clients, the firm acts as an outsourced risk manager, providing on-demand, ongoing guidance about risk and liability issues that could affect their business. Risk Strategies also maintains safety, loss control, and claims management capabilities. In September, Risk Strategies acquired Pro Safety Services, which provides safety and loss control services to construction companies, builders, and a range of other industries.
Source: Risk Strategies
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