BOSTON — Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced the acquisition of Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services, both located in the Greater Detroit area. The joint acquisition preserves an established working relationship between the two partner companies, providing increased capabilities for the clients of two established specialists. Terms of the deal were not disclosed.
Founded in 1989 and based in Southfield, Michigan, Comprehensive Benefits offers a full range of employee benefits services for both fully insured and self-funded programs for organizations. Its offerings and capabilities include medical coverage, large group benefit planning, personal life insurance, and long-term care solutions.
“This acquisition represents a unique opportunity to bring in an existing business partnership and add real specialty talent to our practice,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “These are organizations that have built success based on deep, specialized expertise. I’m excited to welcome them to the team at Risk Strategies.”
Gabrielson Insurance & Financial Services has a complementary focus, offering services in its employee benefits work similar in scope to Comprehensive Benefits. Gabrielson Insurance client organizations are also similar in size, scope and industry to those of Comprehensive Benefits, and there are synergies among the players.
“Joining Risk Strategies is the right move for our organizations, our people, and our clients,” said Mike Embry, President, Comprehensive Benefits, Inc.
Embry is an industry veteran with over 35 years of specialty experience helping clients develop and manage employee benefits programs. He has held several industry leadership positions in Michigan, including President of the Michigan Association of Health Underwriters (AHU) and President of Metro Detroit AHU. In 2018, Embry also served as President of the National Association of Health Underwriters Board of Trustees.
“We saw this as a great opportunity to formally bring our organizations together under the umbrella of a specialty organization with the capabilities to open new possibilities for our clients and people,” added Phil Gabrielson, Founder, Gabrielson Insurance & Financial Services.
“It’s great to have Mike and Phil and their teams aboard as we build out our footprint and benefits expertise in Michigan and the upper Midwest,” said Steve Giannone, Central Region Leader, Risk Strategies. “In today’s employee benefits world, clients are demanding deep expertise to help them make effective choices that deliver for employees and business goals.”
In February of 2024, Risk Strategies grew its presence in Michigan with the purchase of the Ralph C. Wilson Agency Inc. With the addition of Comprehensive Benefits and Gabrielson, Risk Strategies creates new opportunities for clients of both acquired organizations to leverage 30 specialty practices, and broad expertise and capabilities, while preserving the personalized service on which they’ve come to rely.
Source: Risk Strategies
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