CBIZ Acquires Specialty Property And Casualty Broker Trinity Risk Advisors, Inc.
CLEVELAND, Sept. 10, 2012 /PRNewswire/ -- CBIZ, Inc. (NYSE: CBZ) today announced that it has acquired the assets of Trinity Risk Advisors, Inc. ("Trinity") of Atlanta, Georgia, effective September 1, 2012.
Founded in 2009 by Nelson Guzman, Trinity is a specialty property and casualty brokerage firm providing primarily medical malpractice insurance to the healthcare industry and specialized insurance to the transportation industry. Trinity is expected to add five employees and approximately $1.0 million to CBIZ annualized revenue.
Nelson Guzman, President of CBIZ Trinity, has been appointed Southeast Regional Director of CBIZ's property and casualty healthcare division. In this capacity Mr. Guzman will help grow CBIZ's property and casualty insurance services throughout the Southeast. On joining CBIZ, Mr. Guzman, stated, "We are thrilled to be joining CBIZ and look forward to continuing to serve our valued clients. As the landscape of the healthcare and transportation industries continue to evolve, we are now better positioned to offer an increased array of products and services to meet our clients' ever-changing needs."
Steven L. Gerard, CBIZ Chairman and CEO, stated, "The acquisition of Trinity further enhances our Southeastern market with additional property and casualty expertise and opportunities in the healthcare and transportation industries. Nelson and his team have a solid reputation in the Atlanta market and we welcome them to CBIZ."
CBIZ, Inc. provides professional business services that help clients better manage their finances and employees. CBIZ provides its clients with financial services including accounting, tax and consulting, internal audit, merger and acquisition advisory and valuation services. Employee services include employee benefits consulting, property and casualty insurance, retirement plan consulting, payroll, life insurance, HR consulting, and executive recruitment. CBIZ also provides outsourced technology staffing and support services, real estate consulting services, healthcare consulting, and medical practice management. As one of the largest benefits specialists and one of the largest accounting, valuation, and medical practice management companies in the United States, the Company's services are provided through more than 130 Company offices in 37 states.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, the Company's ability to adequately manage its growth; the Company's dependence on the current trend of outsourcing business services; the Company's dependence on the services of its CEO and other key employees; competitive pricing pressures; general business and economic conditions; and changes in governmental regulation and tax laws affecting its insurance business or its business services operations. A more detailed description of such risks and uncertainties may be found in the Company's filings with the Securities and Exchange Commission.
For further information regarding CBIZ, call our Investor Relations Office at (216) 447-9000 or visit our web site at www.cbiz.com.
SOURCE CBIZ, Inc.
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