BOSTON — Risk Strategies, a leading international specialty insurance brokerage and risk management firm, today announced that it has acquired Silveus Insurance Group, Inc (Silveus). The Indiana-based broker dates back to 1940 and is the country’s largest independent specialty provider of crop insurance. Terms of the deal were not provided.
“Agriculture is one of the five strategic specialties that we had identified for long term growth,” said John Mina, Global CEO, Accession Risk Management Group, parent of Risk Strategies and One80 Intermediaries. “I’m pleased that we were able to launch this new industry vertical with a proven performer in Silveus.”
Based in Warsaw, Indiana, Silveus is widely recognized nationwide for its deep expertise and understanding of both federal and private products available to growers to reduce their risk exposures. The firm is the industry leader in private product development, selling a variety of private and federal insurance products.
“We help clients succeed through a unique combination of focused expertise, innovation, and broad, entrepreneurial collaboration,” said John Scroope, National Director of Retail Operations, Risk Strategies. “We saw in Silveus not just a proven, market-leading specialist, but an organization that would be a great fit with the Risk Strategies family. We are thrilled to have them aboard and excited by the possibilities.”
Rooted in generations of industry experience, the Silveus management team today is comprised of highly regarded experts with strong operational expertise in agriculture and a proven track record of growth and innovation in risk management. The firm’s client base is geographically diverse, spanning 40 states, and ranges from small, five-acre farms to some of the nation’s largest corporate farming operations.
“We’re specialists in a nationwide market. Becoming part of a larger company with a similar specialty approach made a lot of sense,” said Scott Silveus, President & CEO, Silveus Insurance Group. “As part of Risk Strategies, we can retain our focus while adding expert capabilities that address our clients’ overall risk and liability exposures.”
Silveus also offers value-added services and capabilities, including proprietary technology and methodologies that help clients better understand their risk exposures and ways to mitigate them. Its proprietary software allows clients to manage a wide variety of agricultural risks. Silveus’ risk management methodology uses in-house technology to power a customizable matrix of client characteristics, coverages, and viable mitigation strategies to create easy-to-read grids that help farm owners visualize and execute successful risk management strategies.
Source: Risk Strategies
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