Risk Strategies, a US-based speciality insurance brokerage and risk management firm, has acquired retail agency Beattie & Associates.
The terms of the transaction were not disclosed.
The acquired entity specialises in employee benefits for both individuals and employers.
Beattie & Associates, which is headquartered in the St. Louis suburb of Chesterfield, Missouri, is led by its principal Tom Beattie.
For over three decades, the agency has catered to individuals and businesses from across a range of industries by providing them employee benefits tailored to their needs.
Its employee benefits coverage includes group health, disability, life, dental, and vision, as well as associated support services.
Beattie’s client base is concentrated in the Midwest region. It also has a presence across Big Sky and Bozeman, Montana, besides Chicago.
The deal expands Risk Strategies’ presence in Montana, whereas Chicago business will complement its existing business.
Risk Strategies national employee benefits practice leader John Greenbaum said: “We are thrilled to welcome Tom and his team at Beattie & Associates to the Risk Strategies family. Their approach to both team and client work is a great fit with our culture and we’re excited to have them aboard as we expand our capabilities regionally.”
Beattie said: “Wanting to preserve our speciality focus and expand our capabilities without losing our high-touch approach to client services made becoming part of Risk Strategies the absolute right choice. I am excited by the possibilities to further extend our relationships and offerings, including property and casualty, to new and existing clients.”
Last month, Risk Strategies acquired full-service retail insurance agency Dickstein Associates Agency for an undisclosed sum.