Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Costello Benefits Group (CBG Benefits Inc.), a full-service employee benefits brokerage firm headquartered in Woburn, Mass. Terms of the deal were not disclosed.
This acquisition is part of a broader strategy for Risk Strategies in the last year, in which it has brought three separate, independent specialty agencies and brokerages into its operations that are focused exclusively on employee health and welfare program challenges.
Risk Strategies’ employee benefits practice focuses on diverse issues facing employers in all industries from regulatory change and uncertainty to carrier consolidation, rising costs and coverage upheavals. It also works with clients to refine their employee value proposition through health and welfare offerings that help retain and attract top talent in a competitive labor market.
Founded in 1999, CBG Benefits helps human resources and corporate finance departments on a number of fronts, including development and implementation of health and welfare benefits programs, workplace wellness programs, regulatory compliance, employee communication and benefits technology.
Source: Risk Strategies
Topics Mergers & Acquisitions Massachusetts Employee Benefits
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