North American specialty insurance brokerage Risk Strategies reports it has acquired Felsen Insurance Services, Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance. Terms of the deal were not disclosed.
Established in 1985, Felsen is based in Denville, New Jersey and led by its founder, Paul Felsen. The agency’s primary focus is providing insurance for real estate, condominium associations, high net worth individuals, and religious institutions.
Rob Rosenzweig, New York regional leader for Risk Strategies, said the deal gives his firm more expertise in condominium and high net worth risks, while also expanding its presence in the market for religious institutions.
Felsen’s work for religious institutions has been focused on the needs of synagogues and temples and their associated operations, including day care centers, youth group activities, in-house catering, a cemetery, and rare artifacts like Torah scrolls, according to the announcement.
In addition, Felsen has expertise in providing risk management or condominium associations and a high net worth practice that works with professional athletes and coaches.
Boston-based Risk Strategies is part of Accession Risk Management Group, a North American specialty brokerage firm. It boasts more than 30 specialty industry and product line practices in more than 200 offices across the country.
Topics Mergers & Acquisitions New Jersey
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