Risk Strategies, a privately held US insurance broker and risk management firm, has acquired Zito Insurance Agency, a full-service insurance brokerage headquartered in Mentor, Ohio.
Established in 1963, Zito employs 36 people and provides property and casualty (P&C) and life and health insurance services to both individuals and business across a range of industries.
In addition to its Mentor headquarters, the firm maintains an office nearby in Rocky River, Ohio.
The acquisition is expected to help Risk Strategies expand its footprint in the central US region.
Risk Strategies originally entered into Ohio with the 2017 acquisition of Brightstone, a specialist focused on next-day delivery and courier businesses with offices in Cleveland.
Then, in 2018, the firm acquired Cincinnati Intermediaries, a specialty wholesale brokerage and managing general underwriter (MGU) focused on professional liability, and employee benefits specialist, Benefit Networks Insurance Agency (BNIA), both based in Cincinnati.
“As we build out our capabilities, we are always seeking firms with a track record of excellence in cultivating deep client relationships through superior work,” said John Mina, Risk Strategies’ Chief Executive Officer.
“Zito’s consultative approach to building client solutions and their loyal client base were both strong indicators they’d be a great fit for us,” he added.
The majority of Zito’s business is focused on helping clients develop tailored property and casualty coverage, with the remainder split evenly between business placing personal lines coverage and life and health lines.
“Given Zito’s long history in the region, perpetuating and scaling the business required a partner that could preserve our client-centric, high-touch approach,” said Chris Zito, President of Zito Insurance Agency.
“Risk Strategies was clearly the best fit for both our people and our clients as we sought to ensure a secure, beneficial path forward for our business,” he explained.