R-T Specialty acquires Tennessee Underwriters
Reprints
R-T Specialty L.L.C., the wholesale brokerage unit of Ryan Specialty Group L.L.C., has acquired the assets of excess and surplus lines broker Tennessee Underwriters Inc.
Terms of the deal were not disclosed.
Based in Franklin, Tennessee, family-owned Tennessee Underwriters will become part of Chicago-based R-T Specialty, R-T said Tuesday in a statement.
Tennessee Underwriters’ “existing operations and experience will be the basis for expanding R-T’s presence in that area as well as our binding authority capabilities,” R-T President and CEO Timothy W. Turner said in the statement.
“We look forward to joining with R-T and expanding our existing capabilities,” Tennessee Underwriters President Donna Guest said in the statement.
A spokeswoman for Ryan Specialty declined to provide further details.
Read Next
-
Excess and surplus insurers profitable in face of competition: Moody's
The U.S. excess and surplus lines market is experiencing a period of growth because of rate increases and an improving economy, while profitability is strong, New York-based Moody's Investors Service Inc. says in a report on the sector issued Friday.
Related Stories
-
Excess and surplus insurers profitable in face of competition: Moody's
-
Consolidation continues to be major factor in excess and surplus lines sector
-
Excess and surplus lines overcapacity drives prices down, diversifies offerings
