The latest acquisition of NICG is expected to consolidate the presence and practice lines of Risk Strategies in Florida and Georgia
Image: Employee benefits consultant NICG acquired by Risk Strategies. Photo: courtesy of rawpixel/Pixabay.
US insurance broker Risk Strategies has acquired employee benefits and human capital consultant National Insurance Consulting Group (NICG) for an undisclosed price.
The acquisition of NICG will help Risk Strategies expand its footprint in the Southeast US, including the states of Florida and Georgia.
Established in 2014, NICG provides benefits consulting, outsourced benefits administration, outsourced HR, and human capital management software delivery.
The company from its locations in Atlanta, Georgia and Fort Lauderdale, Florida, specialises in creating alternatively funded employee benefits programmes. NICG caters to middle market businesses in a range of industries.
Risk Strategies national employee benefits practice leader John Greenbaum said: “The uncertainty in today’s benefits environment requires specialists who can expertly combine innovative funding approaches with technology to deliver great programs that control costs.
“NICG has proven abilities in both areas and will be a great fit in our practice.”
According to Risk Strategies, the company has made significant inroads into various specialty industries during its five years of operation that complement with those served by it. Included in these are family offices, technology firms, professional services, private equity, charter schools and higher education institutions.
NICG founder and CEO Zain Hasan said: “NICG’s proven approach turns health plans into a competitive advantage with better benefits and quality of care.
“As part of Risk Strategies, our clients will have access to similarly effective risk and liability management capabilities for virtually any aspect of their operations.”
Risk Strategies provides risk management advice and also insurance and reinsurance placement for property and casualty, healthcare and employee benefits risks. The company caters to commercial firms, non-profits, public entities and individuals, and is said to have access to all the key insurance markets.
Recent acquisitions made by Risk Strategies
Last month, the company acquired New York-based Reiff & Associates, a full service brokerage company engaged in providing risk and insurance for companies in the entertainment industry.
In May, Risk Strategies acquired MainStreet Consulting Group, a Texas-based insurance brokerage firm, for an undisclosed price. Headquartered in Conroe, MainStreet Consulting is primarily focused on placing a variety of insurance coverage types for commercial clients across a range of industries.