Risk Strategies swoops for N.Y. agency

Specialty insurance brokerage Risk Strategies has announced the acquisition of New York-based Aquarius Capital Solutions Group, an actuarial firm with expertise in healthcare benefits, employee and retirement benefits. The terms of the transaction were not disclosed.

Founded in 2002 and headquartered in Port Chester, N.Y., Aquarius Capital provides actuarial consulting in finance, insurance and risk management for a spectrum of clients including insurance companies, financial institutions, reinsurers, managed care companies, healthcare providers and government entities. It is operated by principals Michael Frank and Donald Rusconi.

“Important financial decisions affecting lives and the bottom line require specialty expertise that can cut through complexity to deliver clarity and innovative solutions,” said John Greenbaum, national employee benefits practice leader at Risk Strategies. “Aquarius brings deep domain expertise and experience working with a variety of clients, which will be invaluable to our firm and our overall business development plans.”

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“We’re extremely excited to be joining Risk Strategies,” said Frank, founder and president of Aquarius Capital. “We saw our experience and expertise as a great fit with Risk Strategies, their specialty approach to risk management and overall approach to building business success.”

The acquisition adds to Risk Strategies’ growing portfolio of actuarial services.