Beecher-Carlson Acquires RiskCap
By Caroline McDonald
NU Online News Service, Aug. 12, 1:45 p.m. EDT–Burlington, Vt.–Beecher-Carlson Captive Management announced yesterday that it has acquired Riskcap, a risk management corporation.[@@]
The announcement was made at the Vermont Captive Insurance Association annual conference here.
Gregory K. Myers, president of the Atlanta, Ga.-based Beecher-Carlson, said that adding Denver, Colo.-based RiskCap expands its locales to include Cayman and Colorado, and increases its presence in Nevada and Hawaii.
Michael Murphy, who founded RiskCap 28 years ago, said that he and Mr. Myers have known and respected each other's work for 15 years.
"I was an advisor for the state of Hawaii, and I was impressed with their work ethic," he said at a press conference.
Mr. Myers said the company now has a total of 88 employees?55 from Beecher-Carlson and 33 from RiskCap. The domiciles they serve include Washington, D.C., South Carolina, Arizona, Nevada, Hawaii, Bermuda and Cayman, he said.
Mr. Myers said the company's total equity is $88.5 million. The company will continue to expand, he said, and will increase its presence in brokering, captive management and consulting. He noted that Beecher-Carlson brings in large organizations while RiskCap brings middle-market and smaller organizations.
The firm recently changed its name from Becher-Carlson to Beecher-Carlson.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.