SOURCE: Risk Strategies Company

Risk Strategies Company

April 20, 2017 15:41 ET

UPDATE - Risk Strategies Company expands Long Island, NY presence with acquisition of Friedman & Friedman Agency

Company's focus on personal lines seen as excellent fit for growing national practice group

BOSTON, MA--(Marketwired - Apr 20, 2017) - Adding to its growing presence and capabilities in the Long Island and Greater New York City market, Risk Strategies Company, a privately held, rapidly growing national insurance brokerage and risk management firm, today announced its acquisition of Friedman & Friedman Agency. Terms of the deal were not disclosed.

Founded in 1947 and based in Westbury, NY, Friedman & Friedman has built a strong specialty emphasis on helping successful families and individuals address their insurance and risk management challenges. Private client personal lines accounts for over half of the company's overall business.

Friedman & Friedman provides home and auto coverage, personal excess, boat/yacht insurance, and valuable collection insurance. It also specializes in estate planning and complex asset protection for high net worth families.

"Risk Strategies Company is focused on acquiring the expertise that makes understanding and solving complex, dynamic risk challenges simple and efficient," said Bob Courtemanche, Risk Strategies Company senior managing director, private client group national practice leader. "The personnel and focus of Friedman & Friedman make it a great fit for our approach to the business."

Led by its principals, Stephen Sharp and Bob Friedman, Friedman & Friedman also has expertise and significant business in real estate, manufacturing, information technology, international, and professional services. While most of the company's clients in these market segments are based out of the New York metropolitan area, many also have locations globally.

"Given our mix of business and approach to risk management, joining forces with Risk Strategies Company seemed like a great way to really make a difference for our clients," said Stephen Sharp, president, Friedman & Friedman Agency.

In October of 2016, Risk Strategies Company announced its acquisition of employee benefits specialist firm TSG Financial, based in Garden City, NY on Long Island. Risk Strategies also has offices in Lake Success, NY on Long Island.

"Friedman & Friedman has a long history of providing superior advice and service to clients, so we wanted to be sure the company we joined met that standard and could add significantly to the capabilities our clients can tap," said Bob Friedman, Partner, Friedman & Friedman Agency. "Risk Strategies is clearly able to do just that."

Since bringing aboard Courtemanche, previously Chairman of ACE Private Risk Services, in October of 2015, Risk Strategies Company has been steadily building out one of the country's most capable national Private Client Groups with key hires and specialty acquisitions.

About Risk Strategies Company
Risk Strategies Company is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & 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. Ranked among the top 20 brokers in the country, Risk Strategies has offices in more than 35 locations nationwide including Boston, New York City, Chicago, Miami, Atlanta, Dallas, Nashville, Los Angeles and San Francisco.