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Risk Strategies Acquires Delmarva Surety to Increase Specialty Brokerages in Mid-Atlantic States.

M2 EQUITYBITES-December 15, 2017-Risk Strategies Acquires Delmarva Surety to Increase Specialty Brokerages in Mid-Atlantic States

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15 December 2017 - Boston, US-based insurance brokerage construction industry group Risk Strategies Company has acquired Maryland, US-based Delmarva Surety to extend the specialty brokerages Mid-Atlantic footprint, the company said.

Terms of the deal were not disclosed.

Surety bonds, such as payment or performance bonds, serve as a type of guarantee; ensuring obligations of the bonded entity will ultimately be fulfilled.

Delmarva's surety and insurance programmes serve all areas of the construction industry, from startups to ENR 400 specialty contractors with clients including general contractors, subcontractors, suppliers and developers.

Risk Strategies said the addition of Delmarva bolsters specialty knowledge for the practice and its clients, while expanding specialised contract surety expertise.

The company is a privately held US insurance broker that offers risk management advice as well as insurance and reinsurance placement for property and casualty, healthcare and employee benefits risks.

Risk Strategies serves commercial companies, non-profits, public entities and individuals, and has access to all major insurance markets.

The company has offices in more than 35 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.

Delmarva specialises in the sale and servicing of surety bonds and commercial insurance.

The company has more than 450 clients throughout the Mid-Atlantic and Eastern United States, including Maryland, Virginia and the District of Columbia.

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Publication:M2 EquityBites (EQB)
Date:Dec 15, 2017
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