Oswald Companies, based in Cleveland, Ohio, and RCM&D, headquartered in Towson, Md., have agreed to strategically merge and launch Unison Risk Advisors.
The transaction is expected to close on or before Dec. 31, 2020.
Both firms will maintain independent brands, operations and management, while merging under the umbrella of Unison Risk Advisors, dba of The JBO Holding Co., to expand service capabilities and specialty practice areas.
Oswald Companies, founded in 1893, is independent and employee-owned. Independent and privately held RCM&D was founded in 1885.
With the merger, Unison Risk Advisors will be 100 percent employee-owned and will rank among the 30 largest brokerage firms. It will feature a combined workforce of more than 650 employee-owners in 12 office locations throughout the Mid-Atlantic and Midwest.
“This strategic alignment of our like-minded firms is the first step in our partnership and strategic growth plan, through the value-added advancements of an expanded geographic footprint, specialty practices areas, expertise and firm perpetuation,” said Robert J. Klonk, chairman and chief executive officer, Oswald Companies, said in the merger announcement.
“We remain committed to our client relationships, and will continue to invest in talent, and seek opportunities, which align with our strategic goals and corporate values under the newly created Unison Risk Advisors,” he added.
In a statement, Bob Cawley, president and chief executive officer, RCM&D, said the “merger, and the development of Unison Risk Advisors, builds on the legacy of our firms’ strong independent and complementary cultures while coming together in a model of employee ownership. We fundamentally believe that clients are best served in such environments.”
Oswald and RCM&D serve clients in the core service areas of employee benefits and health insurance, risk management, commercial property/casualty insurance, personal and life insurance, and retirement plan services. Together, the firms see future expansion opportunities through the strategic and geographic growth of each firm’s nationally recognized specialty practices.
Klonk and Cawley are both active leaders of Assurex Global, a partnership of insurance agents and brokers, and the Council of Insurance Agents and Brokers (CIAB).
Source: Oswald Companies, and RCM&D
Was this article valuable?
Here are more articles you may enjoy.