McGriff expands captive operation with Wisconsin-based acquisition
McGriff expands captive operation with Wisconsin-based acquisition | Insurance Business America
Insurance News
McGriff expands captive operation with Wisconsin-based acquisition
Acquired company has been operating in the market for over 25 years
Insurance News
By
Kenneth Araullo
Retail insurance broker McGriff has announced its acquisition of Alternative Risk Resources (ARR), a commercial brokerage firm based in Wisconsin that specializes in captive insurance.
This acquisition represents a significant expansion of the broker’s footprint in the captive insurance market, as ARR has been actively involved in the industry for over 25 years. Additionally, it marks McGriff’s entry into the Wisconsin market, further broadening its operations in the Midwest.
Over the next six months, ARR will undergo a transition to adopt the McGriff brand. The specific terms of the transaction were not disclosed.
“We have long admired and respected the ARR insurance team and its decades of experience in providing alternative risk solutions to their clients,” said Read Davis, McGriff Specialty and Middle Market CEO. “This acquisition complements McGriff’s existing capabilities in the captive insurance arena as we expand our geography in the Midwest region.”
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