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Business Insurance to honor Patrick G. Ryan with lifetime achievement award

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The inaugural Crain Lifetime Achievement award for outstanding achievement in the insurance and risk management sector will be presented to Patrick G. Ryan, chairman and CEO of Ryan Specialty Group L.L.C., Business Insurance announced Friday.

A longtime insurance industry executive, Mr. Ryan joined the sector as a life insurance agent after graduating from Northwestern University. In 1964, he founded Pat Ryan & Associates, a brokerage and underwriting agency that specialized in products for auto dealerships.

Mr. Ryan grew the company’s operations and in 1987 renamed the group Aon Corp. Over the next several years, through a series of high-profile acquisitions, Mr. Ryan greatly expanded Aon, and by the time he retired from the firm in 2008 it operated in 120 countries and had revenue of more than $7 billion.

After retiring from Aon, he went on to found brokerage and underwriting manager Ryan Specialty Group in 2010, which has grown into one of the largest wholesalers in the United States.

New this year, the Crain Lifetime Achievement award recognizes individuals who have made an outstanding contribution to the risk management and insurance sector over the course of their careers. The award is named in honor of the Crain family, which founded Business Insurance. The late G.D. Crain, the founder of Crain Communications Inc., conceived the idea for the publication and his son, Rance Crain, was the publication’s first editor.

Business Insurance was bought last year by Moxie Holdings, which is led by Adam Potter, founder of the Claims and Litigation Management Alliance.

The award will be presented on Oct. 5 at the Business Insurance Innovation Summit and Awards in New York.

For more information on the event, please contact Susan Wisbey-Smith at: ssmith@businessinsurance.com.