Risk Strategies Acquires Surety Specialist Bonds, Inc.
Adds to existing capabilities, government sector expertise
BOSTON, July 20, 2022 (GLOBE NEWSWIRE) — Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced it has acquired Bonds, Inc., a specialist in surety bonds focused on the construction industry. Terms of the deal were not announced.
Located in Hunt Valley, Maryland, Bonds, Inc. was founded in 1996 by its current President Michael Shaver. The firm helps clients in the construction industry secure performance and payment bonds for projects. Its staff is highly knowledgeable with combined experience of over 150 years in the surety industry.
“Michael and his team are an excellent fit with the Risk Strategies family and our specialist approach to risk,” said Scott Popilek, Risk Strategies Atlantic Region Leader. “Their focused surety expertise has made them a valued part of their clients’ business, and now they can leverage all the other insurance products and services of the Risk Strategies family.”
The acquisition of Bonds, Inc. strengthens Risk Strategies Surety Practice bonding operations. Bonds, Inc. helps maximize clients’ surety credit in providing bonds for government and municipal projects in the Baltimore and DC-metro area.
“In today’s business environment, clients really benefit from a specialist approach,” said Shaver. “We saw in Risk Strategies a true specialist who would understand the value we bring to clients, and joining the company gives us more options to help meet clients’ broader needs and expand our base of business.”
Bonds, Inc. works with a broad range of contractors, from smaller start-ups to large, highly experienced companies. A national scale broker with clients across the country in addition to its primary base in the Mid-Atlantic region, Bonds, Inc. also has expertise in writing international bonds for the State Department and the Overseas Budget Office.
As part of Risk Strategies, Bonds, Inc. will gain access to new markets, enabling them to help existing clients with broader geographical footprints, including overseas operations.
To learn more about Risk Strategies, please visit www.risk-strategies.com.
About Risk Strategies
Risk Strategies is a specialty national insurance brokerage and risk management firm offering comprehensive risk management advice and insurance and reinsurance placement for property & casualty, employee benefits, and private client services risks. With over 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top brokers in the country, Risk Strategies has over 100 offices including Boston, New York City, Chicago, Toronto, Montreal, Grand Cayman, Miami, Atlanta, Dallas, Nashville, Washington DC, Los Angeles and San Francisco. www.risk-strategies.com
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