AccuRisk Announces Acquisition of Matrix Group Benefits

PEMBROKE, Mass.--(BUSINESS WIRE)--
Today, AccuRisk announces the acquisition of Matrix Group Benefits, a Portland, Maine-based MGU. Matrix Group Benefits approaches Medical Stop Loss for Partially Self-Funded Plans from a financial planning perspective using a multiple year financial model. Their team of twelve will be incorporated into the AccuRisk Solutions staff and continue to be based in Portland.

AccuRisk is a part of Ardonagh Global Partners (AGP), a branch of the Ardonagh Group, the UK’s leading independent insurance broker. AccuRisk’s acquisition of Matrix Benefits Group contributes to AGP’s North American expansion strategy. AccuRisk also benefits from their alliance with Amynta Group, a premier insurance services company with associates across North America, Europe, and Australia.

“Growing within the stop loss space has always been our goal and by bringing in the team from Matrix, we are pleased to expand our reach from a resources and premium perspective but also from an intellectual capital perspective,” said AccuRisk CEO Daniel Boisvert. “The Matrix team will add to our innovative team that is focused on delivering options to employers that provide predictable outcomes and a stable model that better aligns with their future goals for growth.”

“We are pleased to combine our strengths with the diverse and dynamic teams at AccuRisk and the Ardonagh Group. This combination enables our new collective team to enhance, expand and maximize our multi-year stop loss and risk oversight approach,” said Matrix President Mike Edwards.

Commenting on the acquisition, Des O’ Connor, CEO Ardonagh Global Partners, said, “We are delighted to welcome Matrix into AccuRisk and the wider Ardonagh family, as we provide them with more specialization, technology, and innovation as they continue to take full advantage of the fast growing and evolving US insurance markets and economies to become brighter and bolder.”

About AccuRisk

AccuRisk is a leader in health solutions innovation that offers traditional insurance products alongside advanced risk mitigation solutions. Our national footprint allows us to tailor our innovations to meet the unique needs of our clients. We're driven to bring our clients reliable, best-in-market services from underwriting, data analytics, claims and policy administration, and distribution to comprehensive benefits plan design. Through our network of selective partnerships, we focus on mutual growth and actionable solutions designed to transform the benefits industry. Led by a team composed of proven industry game-changers, AccuRisk Holdings’ key investors are the Ardonagh Group, the Amynta Group, and our executive management team.

Learn more about AccuRisk at our website: accurisksolutions.com.

About Matrix Group Benefits

Matrix Group Benefits L.L.C., was founded in 2001. The partnership brought together executive level experience from four diverse disciplines in the healthcare and stop loss space. Matrix’ products and services were developed with top level expertise in healthcare delivery, direct stop loss carrier product and marketing management, Managing General Underwriting operations and top accounting and financial management leadership. This leadership team was the core of the overall Matrix team that has had virtually the same roster as in our early years. The Matrix team has performed at the highest level, consistently, for over two decades as measured by industry metrics.

Special mention goes to one individual, who is no longer with us. Matrix’ founding consulting actuary needs no introduction. Carleton Harker FSA, MAAA impacted our culture, our product platforms and models and Carl contributed to our success in immeasurable ways.

Learn more about Matrix Group Benefits at their website: matrixgb.com

About THE ARDONAGH GROUP

The Ardonagh Group is one of the world’s leading independent insurance distribution platforms. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more 150 locations and a combined workforce of more than 9,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland, and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.

Learn more about The Ardonagh Group at their website: ardonagh.com

About Amynta Group

Amynta Group is a premier insurance services company with more than $3.5 billion in managed premium and 2,000 associates across North America, Europe, and Australia. An independent, customer-centered, and underwriting-focused company, Amynta serves leading carriers, wholesalers, retail agencies, auto dealers, OEMs, and consumer product retailers with innovative insurance and warranty protection solutions. Amynta operates through three segments: Managing General Agencies; Warranty, including automotive, consumer and specialty equipment; and Specialty Risk Services.

Learn more about The Amynta Group at their website: amyntagroup.com.

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Allie Boisvert
[email protected]

617-750-2402

Source: AccuRisk