Risk Strategies Acquires Baker Benefit Group, LLC
Expands specialty capabilities, expertise in Executive Employee Benefits
BOSTON – Risk Strategies, a leading North American specialty insurance brokerage and risk management and consulting firm, has announced it has acquired The Baker Benefit Group, LLC (BBG), a retail firm providing ancillary employee benefits products at large employer groups. Terms of the deal were not announced.
Founded in 1999 and based in Falmouth, Maine and Ridgefield, Connecticut, BBG expands Risk Strategies capabilities in the executive benefits space. The firm’s primary focus is the design, implementation, and ongoing service of Individual Disability Insurance (IDI) plans.
“The Baker Benefit Group is coming to us with a complementary focus that will deepen our expertise in a meaningful way,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “Adding BBG to the Risk Strategies family enhances our ability to serve our clients. I’m excited by the possibilities.”
The Baker Benefit Group’s client focus has been large employer groups primarily based in the Northeast, with many operating both nationally and internationally. Among BGG’s clients are hospitals ranked among the country’s top 10, leading institutions within America’s top 15 universities, and one of the top-five global management consulting firms.
The complexity of creating, selling, and managing an effective ancillary benefit program requires focus and deep expertise. This dynamic fosters client trust and loyalty. “Our focused specialization is the engine driving our business success and client loyalty,” said Mark Baker, Founder and President, The Baker Benefit Group, LLC. “In Risk Strategies, we have found a partner to help us scale our business and offer more capabilities to our clients in addition to our specialty focus.”
A supplement to core employee benefits offerings like health insurance, ancillary benefits offer employers an effective recruitment tool and can also help boost employee retention by providing access to coverages that meet their needs in a more personalized way. Programs are often tailored to target key employees or roles within an organization.
About Risk Strategies
Risk Strategies, part of Accession Risk Management Group, is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices – Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. RiskStrategies.com.
