PARSIPPANY, N.J., (July 24, 2008) – York Insurance Services Group, Inc., a premier national provider of insurance services, including claims handling, specialized loss adjusting, insurance pool administration and other insurance services, today announced it has invested in Roseville, Calif.-based Gregory B. Bragg & Associates, Inc. (Bragg). The terms of the acquisition were not disclosed.
The Bragg acquisition is York’s second acquisition of a public entity-focused insurance services provider in recent weeks, transforming it into one of the leading insurance services providers for governmental agencies in the U.S. On June 30, York announced the acquisition of Mich.-based American Risk Pooling Consultants (ARPCO), a provider of risk management and other services to public entity risk-sharing pools in the Midwest. York provides services to nearly 4,000 public entity clients nationwide.
Bragg provides workers’ compensation, property, liability and risk management services to more than 750 public and private self-insured entities in California. Bragg’s management team will continue to be led by Chairman Greg Bragg and President Randy Smith.
Bragg becomes part of York Risk Management Services (York RMS), the York division that provides claims and risk management services to public entities, risk pools and self-insured commercial customers in all 50 states. York RMS also includes Southern California Risk Management Associates (SCRMA), a premier provider of workers’ compensation and managed care services to hundreds of California employers, both public and private.
“The Bragg acquisition demonstrates York’s commitment to the California marketplace,” says Rick Taketa, chief executive officer and president, York RMS. “With our combined business, we are able to provide a complete suite of risk management and insurance solutions to our customers, whether they be public entities, commercial interests or carriers.”
“Our companies enjoy very favorable reputations in California,” says Bragg. “This business combination comes from our shared focus on the client and our deep understanding of the challenges and opportunities inherent in providing specialized services in California. By combining resources, we will provide enhanced services to our customers while maintaining our cherished values and dedicated employees.”
“York’s recent acquisitions reflect our commitment to helping our clients reduce their overall cost of risk,” says Tom MacArthur, chairman and chief executive officer, York. “We do this by focusing on very specific segments of the insurance market, rather than trying to be all things to all people. These acquisitions support our public entity business, while other initiatives have enabled us to better serve our industry-specific programs, commercial market and specialized loss-adjusting clients. We dive deeply into specific segments so we can better protect our clients’ assets, relationships and reputations.”