Artex Risk Solutions has acquired RIBV Holdings, and its subsidiaries, collectively doing business as Risk International. Terms of the transaction were not disclosed.
Ohio-based Risk International provides outsourced risk management and employee benefits advisory services for private equity and corporate clients across the United States.
The Risk International team, led by Todd Miller and Todd Lawrence, will remain in their current location under the direction of Jennifer Gallagher, head of Artex’s North American operations.
“We are delighted to welcome Todd Miller, Todd Lawrence and their team to Artex,” said Peter Mullen, Artex Global CEO.
“Risk International have built a terrific business that has a strong strategic alignment with Artex.”
Mullen said Risk International helps clients find a better way to control the cost of risk across their business, which complements Artex’s ability to build risk financing vehicles for clients.
“Risk International brings us 147 new colleagues spread across six locations in the US, including their headquarters in Fairlawn, Ohio,” he said.
“We welcome the new team and look forward to working together.”
In July, Artex expanded its Malta presence by completing the transition of Bee Insurance Management into its Artex EMEA business.
Artex also recently established a Vermont protected cell company (PCC), Artex Axcell PCC (Vermont), Inc, to provide organisations of all sizes an alternative platform for risk transfer.