Dec 6, 2010 – Risk Strategies Company completes merger of Cohn Reid O’Neill Insurance Services
Risk Strategies Company Completes Merger Of
Cohn-Reid-O’Neill Insurance Services
December 6, 2010 –Boston, MA — Risk Strategies Company (RSC), a national
insurance brokerage and risk management firm based in Boston, today announced that it
has successfully completed the merger of Cohn-Reid-O’Neill Insurance Services, Inc.
(CRO) in Burlingame, CA with its West Coast operations. Focused on providing
insurance brokerage and employee benefits services to the technology, agriculture and
real estate sectors, CRO has built its private client personal lines insurance group, which
serves high net worth individuals and families, into one of the largest in California.
The merger supports RSC’s strategy to supplement organic growth and also diversify
with targeted transactions. In addition, CRO expands RSC’s presence in California, which
already includes offices in Los Angeles, Sacramento and Irvine, and provides RSC with a
solid foundation for continued growth in the rest of the Western U.S. region. Terms of the
transaction have not been disclosed.
“CRO is one of the most respected insurance intermediaries in Northern California,” said
Michael Christian, Chief Executive Officer of RSC. “Combining CRO’s expertise in
property-casualty insurance, private client personal lines and employee benefits with our
existing platform will deliver even better solutions for our respective clients and create
more opportunities for future growth.”
As part of the merger, CRO’s three founding principals, Joe Cohn, Andy Reid and John
O’Neill, will continue to lead CRO’s business with all of CRO’s employees joining the
newly combined RSC-CRO organization.
“Our two companies share a common philosophy and commitment to delivering highly
valued insurance solutions to clients,” said John O’Neill, Chairman of CRO. “We look
forward to joining forces with RSC and building on what both organizations have
accomplished over the past 13 years.”
Mystic Capital Advisors Group, LLC provided transaction advisory services to RSC.