US retail broker McGriff has completed the acquisition of Alternative Risk Resources (ARR), the Wisconsin-based captive consultants focused on group captive programmes.
McGriff already has an alternative risk transfer and captive solution division and the purchase of ARR is expected to complement those offerings.
“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, CEO of McGriff’s Specialty and Middle Market business.
“This acquisition complements McGriff’s existing capabilities in the captive insurance arena as we expand our geography in the Midwest region.”
ARR will be transitioned into the McGriff brand over the next six months, with ARR partners Sean Doyle and Mike Wosick saying they are excited to further grow their portfolio alongside the McGriff captive solutions team.
“For the past 25 years, ARR has empowered businesses to control their insurance costs and develop organizational cultures that exemplify the industry-best in safety and loss prevention practices,” said Doyle.
“We now look forward to growing our business while further enhancing services to our clients as we work alongside McGriff’s dedicated captive insurance team.”