Risk Strategies Acquires Mahorsky Group, Inc., Brick Procurement, Inc.

GlobeNewswire

BOSTON, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced its acquisition of Mahorsky Group, Inc., and its affiliated entity Brick Procurement, Inc. Terms of the deal were not disclosed.

Headquartered outside of Philadelphia, Pennsylvania, Mahorsky supports all types of large-scale federal and commercial construction projects, placing bonds for national and international contractors across the United States. Its affiliated company, Brick Procurement, Inc., provides specialty risk management expertise in federal contracting. The firm’s in-house underwriters have a combined 250 years of horizontal, vertical and specialty contractor experience in both non-federal and federal construction.

“Given the complexity of today’s construction marketplace, both the Mahorsky Group and Brick Procurements expertise and specialist knowledge add to our surety bond practice’s leadership,” said Brian Whipple, National Surety Practice Leader, Risk Strategies. “The Mahorsky and Brick teams are a welcome addition to our group and their federal government focus and geographic diversity bring added value for our clients.”

Operating out of nine regional offices nationwide, Mahorsky manages client risk from inception to project completion, beginning with contractor analysis and ending with project monitoring systems. Mahorsky works in-tandem with Brick Procurement to help federal agencies analyze source selection decisions and assist federal contractors in understanding and meeting project requirements. Combined, this work helps secure best-match project opportunities and ensures the government attracts the right contractor for the job.

“The scale, intricacies and nuances of today’s construction environment, especially in the federal market, require focused specialty expertise to deliver client success,” said Scott Mahorsky, President, Mahorsky Group, Inc. “Risk Strategies enables us to maintain our specialty focus while expanding the scope and depth of expertise we can bring to bear for our clients.”

The addition of Mahorsky Group and Brick Procurement follow the recent acquisitions of JW Surety, Bonds, Inc., its sister companies Bryant Surety Bonds, Inc. and Lance Surety Bonds Associates, Inc., as well as Burke Insurance Group, Thomas McGee Group and Delmarva Surety Associates. Combined, these firms and their capabilities, market and geographic presence secure Risk Strategies position as an industry leader in the surety bond space.

To learn more about Risk Strategies, please visit www.riskstrategies.com.

About Risk Strategies

Risk Strategies is the 9th largest privately held US brokerage firm offering comprehensive risk management advice, insurance and reinsurance placement for property & casualty, employee benefits, private client services, as well as consulting services and financial & wealth solutions. With more than 30 specialty practices, Risk Strategies serves commercial companies, nonprofits, public entities, and individuals, and has access to all major insurance markets. 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. RiskStrategies.com.