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Ryan Specialty Group LLC said Thursday it had agreed to acquire wholesale insurance brokerage Boston Insurance Specialists Inc., strengthening its New England presence.
Terms of the transaction were not disclosed.
In a statement, Chicago-based Ryan Specialty Group said the entire team at Boston Insurance Specialists will become part of its wholesale brokerage unit R-T Specialty LLC.
Founded in 2001, family-owned Boston Insurance Specialists offers property/casualty, professional liability and personal lines, out of its Mansfield and Westfield, Massachusetts offices.
The firm is led by founders Debbie Murphy and Peggy Giancola.
Ryan Specialty Group L.L.C. said Monday it had entered into a long-term strategic relationship with New York-based private equity firm Onex Corp., which is investing $175 million in the Chicago-based specialty insurance company.