US Captive – 14 March
–14 March 2008
Global Risk Holdings (GRH) has bought North American Risk Services (NARS), a national provider of property and casualty third-party administration (TPA) services from Clarendon National Insurance Company. GRH, in conjunction with members of the NARS management team, has acquired all of NARS’ outstanding shares.
Walt Sliva, President of GRH, will become chairman and CEO of NARS. Robert Ruryk will become the Vice-President of GRH and will serve as President and COO of NARS.
“We have been looking to grow our TPA division through appropriate acquisition for some time. NARS’ national scope, highly experienced personnel and state of the art systems fit perfectly with our plans,” said Sliva. “We are confident that NARS’ continued commitment to tailored and responsive customer service combined with a new and more diverse marketing strategy will lead to both growth and a more significant role as a leader in the TPA marketplace.”
North American Risk Services is headquartered in Maitland, FL, and provides nationwide claims, data and risk management TPA services to businesses, insurers, reinsurers and brokers in the United States. NARS is known for the experience and expertise of its employees and the application of those skills in controlling its customers’ loss and administrative costs by tailoring its claim management approach to fit each unique risk circumstance.
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