Global Risk Holdings has acquired North American Risk Services, a provider of property and casualty third-party administration services, from Clarendon National Insurance Company.
Global Risk Holdings (GRH), in conjunction with members of the North American Risk Services (NARS) management team, has acquired all of NARS’s outstanding shares. Walt Sliva, president of GRH, will become chairman and CEO of NARS. Robert Ruryk will become the vice president of GRH and will serve as president and COO of NARS.
Mr Sliva said: We have been looking to grow our third-party administration (TPA) division through appropriate acquisition for some time. NARS’s national scope, highly experienced personnel and state-of-the-art systems fit perfectly with our plans.
We are confident that NARS’s continued commitment to tailored and responsive customer service combined with a new and more diverse marketing strategy will lead to both growth and a more significant role as a leader in the TPA marketplace.