AccuRisk acquires managing general underwriter Matrix Group Benefits

AccuRisk has acquired Matrix Group Benefits, a managing general underwriter (MGU) based in Portland, Maine for an undisclosed price.

Established in 2001, Matrix Group Benefits is engaged in managing the risks related to partially self-funded benefit plans and medical stop-loss coverage. The MGU’s team of 12 will be added into the staff of AccuRisk Solutions and continue to work from Portland.

AccuRisk, which is a part of Ardonagh Global Partners (AGP), a branch of UK-based insurance broker Ardonagh Group, said that the acquisition of Matrix Benefits Group contributes to its expansion strategy in North America.

Besides, AccuRisk expects to benefit from its alliance with Amynta Group, an insurance services company with associates in North America, Australia, and Europe.

Daniel Boisvert — AccuRisk CEO said: “Growing within the stop loss space has always been our goal and by bringing in the team from Matrix, we are pleased to expand our reach from a resources and premium perspective but also from an intellectual capital perspective.

“The Matrix team will add to our innovative team that is focused on delivering options to employers that provide predictable outcomes and a stable model that better aligns with their future goals for growth.”