Risk Strategies, a leading national specialty insurance brokerage and risk management firm, announced that it has acquired Stone Insurance Agency, a multi-generational agency serving commercial and personal lines clients based in Guilford, Connecticut. Terms of the deal were not disclosed.
Founded in 1859 by Elliott Stone, Stone Insurance Agency is led today by industry veterans Robert Oman and Doug Danaher, who, respectively, manage the firm’s commercial and personal lines businesses. The agency’s property and casualty insurance specialists help commercial clients in a wide array of industries, including manufacturing, retail and e-commerce, industrial services and property maintenance. In personal lines and high net worth, it is expected that additional resources will present new growth opportunities in an already strong specialty.
“As we looked for ways to perpetuate and scale our business, we looked for a partner who shared our view of the business and could complement our capabilities,” said Robert Oman, Managing Partner, Stone Insurance Agency. “Risk Strategies clearly had the resources and capabilities we needed, and also offered a great cultural fit for our people and approach to client service.”
Stone Insurance Agency’s multi-generational success has been built on a culture of developing talent to ensure consistency of expertise and service. This emphasis on staff development has resulted in consistently high levels of client satisfaction and retention, even as the firm has branched into new industry sectors.
“The foundation of Risk Strategies success has been our team’s commitment to collaboration, development of expertise, a sense of urgency and to integrity,” said Ed Flanagan, New England Regional Leader, Risk Strategies. “Stone Insurance Agency shares this philosophy, and their long business history is proof of its efficacy. I’m excited to welcome their team of professionals to the Risk Strategies family, and to our ever-expanding local presence along the Connecticut shoreline.”
The acquisition of Stone Insurance Agency builds on Risk Strategies New England region footprint of expertise. In addition to Stone Insurance Agency, Risk Strategies this year has acquired Massachusetts-based employee benefits specialist Strategic Benefits Solutions, as well as May, Bonee & Clark Insurance, a Connecticut-based firm bringing strength in employee benefits, and financial services to the New England region.
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