R&R Insurance projects $30 million in revenue in 2015
Waukesha company has grown organically

By Katherine Michalets - Freeman Staff

April 30, 2015

 Members of the Riesch family, owners of R&R Insurance, from left, Ken Riesch, Stephanie Riesch-Knapp, Bryon Riesch and Jack Riesch.
 
 
Charles Auer/Freeman Staff

WAUKESHA - In its 40 years, R&R Insurance has been able to grow organically, thanks to an investment in the company’s employees and by offering specialized services, said President Ken Riesch.

Riesch and his father, Otis, started the business in 1975 with $6,800 in commission income. Later Dexter Riesch joined the business. By 1990 Ken Riesch became the sole owner of the company and five years later had approximately $4.5 million in commission.

During the years, R&R Insurance has continually invested in different areas and hired account executives with specialty knowledge. 

R&R Insurance, like Waukesha County, has seen significant growth in recent years. With locations in Waukesha, Menomonee Falls, West Bend, Beaver Dam and Oconomowoc, Ken Riesch said he is also open to expanding into other states. R&R Insurance is currently licensed in all 50 states.

Earlier in April, R&R Insurance announced that it had acquired Bartelt Insurance Agency in Kewaskum. Bartelt had two employees, of which owner Thomas Bartelt plans to retire and the other employee will join R&R.

About 20 to 25 percent of R&R Insurance’s revenue has come from acquisitions, Ken Riesch said.

As the oldest of four children, Jack Riesch has stepped up to help lead the company as owner and executive vice president. His siblings, Stephanie and Bryon, are equal owners of the company and also work there. Another sibling, Mikey, died recently.

 

Continuing growth

Jack Riesch said discussion at R&R Insurance has included “how do we continue the successful growth we’ve had over the course of the next 30 years.”

 Jack Riesch talks about the future of R&R Insurance.
 
 
Charles Auer/Freeman Staff

To that end, Ken Riesch created a succession plan about 20 years ago and has assembled a team of managers and account executives who have helped the company grow into the future.

“The biggest investment has been to perpetuate the stock of the business,” he said.

R&R Insurance has also managed to grow and invest in its employees without carrying much debt, Ken Riesch said.

By hiring younger employees, he said, they are able to keep the energy and enthusiasm high at R&& Insurance. The company’s strategy is to put emphasis on strong retention and to offer high-quality benefits. The company employs about 185 people.

 R&R Insurance President Ken Riesch listens to a question during an interview on Wednesday.
 
 
Charles Auer/Freeman Staff

“There is more energy and excitement and harnessed potential for the future than ever before,” Ken Riesch said.

R&R Insurance is projected to have $30 million in revenue by the end of the year, making it one of the largest family-owned agencies in the U.S., Ken Riesch said. He is getting close to his goal for many years of reaching $40 million in revenue. He said the family follows the theory of think and dream big.

 Ken and Jack Riesch talk about growing a multi-generational business.
 
 
Charles Auer/Freeman Staff

“It’s amazing what that allows you to become and then you have to find a way to keep that dream alive,” he said.

Another commitment of R&R Insurance is to give back to the communities in which it is involved.

“We don’t want to forget our roots no matter what we do,” Ken Riesch said, adding he does consider his employees the company’s biggest asset.

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Email: kmichalets@conleynet.com