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Ryan Specialty Group L.L.C. said Wednesday it has reached a definitive agreement to acquire specialty intermediary New Day Underwriting Managers L.L.C.
Terms of the transaction were not disclosed.
Hamilton, New Jersey-based New Day specializes in environmental liability and construction-related professional liability insurance, Chicago-based Ryan Specialty said in a statement.
New Day will become part of R-T Specialty L.L.C., Ryan Specialty’s wholesale brokerage unit.
New Day President Jefferey S. Lejfer, who founded the company in 2005, will continue to lead it as it combines into RT-Specialty, according to the statement.
Ryan Specialty Group L.L.C. said Wednesday it has reached a definitive agreement to acquire managing general underwriter Irwin Siegel Agency Inc.