Ryan Specialty Group and All Risks to become one entity
The merger unites two insurance specialists with proven track records of success in wholesale distribution.
Chicago-based Ryan Specialty Group (RSG) and All Risks, Ltd., headquartered in Delray Beach, Fla., have signed a definitive agreement to merge, the companies announced last week. The details of the transaction were not disclosed.
The plan to unite brings together two national insurance specialists with proven track records of excellence in transactional wholesale distribution and managed underwriting businesses as managing general underwriters, programs, and delegated binding authorities.
The merger highlights how the need for strong niche expertise is more evident than ever in the specialty insurance industry, especially as personal insurance products become more direct-to-consumer and digitized.
“We are pleased to join with a company that has an outstanding culture, exceptional talent and is a strong strategic fit with Ryan Specialty Group,” Patrick G. Ryan, founder, chairman and CEO of RSG, said in a statement. “We both have established ourselves as leading participants in the specialty insurance distribution sector… The opportunities for our employees are even more robust by the merging of our two firms. I’m very bullish on our future together and the additive value that we will bring to the industry.”
All Risks’ Nick Cortezi, CEO, and Matt Nichols, president, will continue to lead in senior executive roles, Ryan added.
In a release, Cortezi said that All Risks could not be more excited to join forces with RSG “to form one unified company… to the greater benefit of our employees, our retail partners, and our carrier partners. “
About the companies
This year, RSG, which consists of RT Specialty, a wholesale brokerage firm, and RSG Underwriting Managers, a specialty underwriting organization, is celebrating its 10th anniversary.
All Risks was founded in 1964 and has since grown into a national wholesale broker, managing general agency and program administrator.
In 2020, RSG and All Risks are projecting to achieve $12 billion and $2.6 billion in premium, respectively.
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