McGriff Expands Captive Market Presence with ARR Acquisition

Insurance broker McGriff Insurance Services, LLC, has acquired Alternative Risk Resources (ARR), a Wisconsin-based commercial brokerage specializing in captive insurance.

In a statement, McGriff said the acquisition expands its presence in the captive insurance market with a firm that has been active in the captive industry for more than 25 years. The acquisition also broadens McGriff's operations in the Midwest, the company said.

"We have long admired and respected the ARR insurance team and its decades of experience in providing alternative risk solutions to their clients," Read Davis, CEO of McGriff's Specialty and Middle Market business, said in the statement. "This acquisition complements McGriff's existing capabilities in the captive insurance arena as we expand our geography in the Midwest region."

"For the past 25 years, ARR has empowered businesses to control their insurance costs and develop organizational cultures that exemplify the industry-best in safety and loss prevention practices," Sean Doyle, ARR partner, said in the statement. "We now look forward to growing our business while further enhancing services to our clients as we work alongside McGriff's dedicated captive insurance team."

ARR will transition fully to the McGriff brand over the next 6 months. The terms of the transaction were not disclosed.