Specialty insurance brokerage Risk Strategies has set foot in the Michigan market with the acquisition of Ralph C. Wilson Agency for an undisclosed sum.
The acquired company offers risk management and employee benefits consulting services.
Headquartered in Southfield, Michigan, Ralph C. Wilson Agency was established in 1923.
The agency is licensed to operate in more than 40 states and offers a broad spectrum of coverage, including general and professional liability, property, cyber, and workers’ compensation insurance.
It caters to diverse sectors such as auto dealers and manufacturers, marinas, non-profits and veterinarians.
The acquisition by Risk Strategies underscores its growth in the Midwest region.
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Throughout 2023, the company has been actively investing in the region, having acquired Illinois-based IZALE Financial Group, Ohio-based First Insurance Group and the insurance operations of Johnson Financial Group in Wisconsin.
Risk Strategies central region leader Steve Giannone said: “Having a firm as storied and trusted as the Ralph C. Wilson Agency join our family is truly exciting. Their century of success in Michigan is a testament to the firm’s people, their expertise and commitment to their community. It is a great fit for Risk Strategies.”
Ralph C. Wilson Agency president and CEO Bob Farris said: “In seeking a way to perpetuate this business that would best serve our people, clients and the Wilson family’s values, we saw Risk Strategies as an ideal match.
“Its specialist approach adds resources and expertise for clients, its flat national structure and collaborative approach opens new possibilities for our people, and its commitment to supporting communities where they do business is right in line with our culture.”
The move follows Risk Strategies’ recent acquisition of Stone Insurance Agency, which serves commercial and personal lines clients in various industries including retail, manufacturing, e-commerce, property maintenance and industrial services.