Kraus-Anderson Insurance, a national leader in risk management services, has acquired Onyx Benefit Advisors, a comprehensive employee benefits firm based in Bloomington, Minn. The acquisition complements KA Insurance’s benefits portfolio and reflects an investment in intellectual capital that will support the firm’s growth and depth of expertise regionally and nationally.
Onyx is KA Insurance’s third strategic acquisition in recent years. The company also acquired Minnesota Insurance Brokers (MIB) in 2009 and Advanced Risk Manager in 2012.
“We are very excited to bring Onyx into our KA Insurance family,” said Dennis Diessner, executive vice president and chief operating officer of KA Insurance. “These are uncertain times in the world of healthcare and business leaders need experienced professionals with creative solutions to help them craft an employee benefit plan that is fiscally responsible, while at the same time actually attracts and retains a company’s biggest asset, its employees.”
Onyx was founded by Jenny Wiederholt-Pine, who built the company into a successful agency, offering services that include health risk management and wellness plans. Wiederholt-Pine will serve as KA Insurance’s senior benefit advisor and will market benefit programs and other agency services to employers in the Twin Cities metro area.
“The acquisition greatly expands our scope of services that allows us to continue to provide a consultative approach of planning and designing the right solutions for our clients,” says Kelly Brenna, KA Insurance’s vice president of HR and benefit services.
Onyx offices and employees have relocated to KA Insurance’s Burnsville location effective September 1.
“Sharing a similar culture of core values also is extremely important,” said Wiederholt-Pine. “This is a perfect fit and we are thrilled to be a part of KA Insurance’s growing benefit practice.
About Kraus-Anderson Insurance
Kraus-Anderson Insurance is an independent agency providing a spectrum of effective risk management tools for businesses and individuals, including business and personal lines, alternative risk financing, workers compensation management (COMPTROL), HR/benefits, safety/loss control and surety bonding. COMPTROL is a member of the Institute of Work Comp Advisors, limited to 275 agencies nationwide. KA Insurance, an Affirmative Action, Equal Employment Opportunity Employer, is part of the Minneapolis-based Kraus-Anderson family of operations, including commercial construction, real estate management and development, and capital financing.