Ryan Specialty launches health care and life science underwriting group

Chicago-based Ryan Specialty Group L.L.C. on Monday unveiled RSGUM Healthcare, a health care and life science underwriting facility that will offer limits up to $25 million for professional, general and products liability coverage.

RSGUM Healthcare was created in partnership with RKH Insurance Brokers and features support from the Lloyd's syndicates of Amlin P.L.C., Chaucer P.L.C., Catlin Group, Hiscox Inc., Atrium Underwriters Ltd., RenaissanceRe Holdings Ltd. and Dale Underwriting Partners.

“We are extremely pleased to announce this important new partnership with some of the most experienced Lloyd's healthcare and life science syndicates,” RSG Chairman and CEO Patrick G. Ryan said in a statement.

To create RSGUM Healthcare, RSG combined two existing underwriting units, its medical professional liability business, Sapphire Blue, and its medical products liability business, LifeScienceRisk. The overall facility will be managed by Kieran Dempsey, newly appointed Chicago-based CEO of RSGUM Healthcare.

Mr. Dempsey said the consolidated program enabled RSGUM to provide greater capacity for clients while at the same time pooling the expertise of the separate Lloyds syndicates. Whereas a life sciences company would previously have to work with a broker to construct a layered program with $5 million or $10 million sections from separate insurers, they can now buy a single $25 million policy on a quota-share basis from RSGUM Healthcare, he said.