An economy showing mixed signs of recovery would hardly seem the optimum time to launch a business. Nevertheless, two major wholesale insurance brokerages were launched this year and the high-profile entrepreneurs running them spoke with the optimism and spirit associated with the pre-recession, high-flying years.
Ryan Specialty Group (RSG), the latest creation of Aon-founder Patrick G. Ryan, consists of a handful of specialty-service subsidiaries that cater to existing and evolving wholesale markets. Its wholesale brokerage, Ryan-Turner Specialty (R-T Specialty), is led by President Timothy Turner, a former president of CRC Insurance Services.
This year's other major launch, MarketScout Wholesale (MSW), is led by Glenn Hargrove, former CEO of Crump. MSW uses a multitiered distribution model that includes the retail insurance exchange built by its affiliate MarketScout.
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