Ryan Specialty to acquire Houston wholesale broker

Ryan Specialty Group L.L.C. said Monday it has reached a definitive agreement to acquire Houston-based wholesale insurance broker Oxford Insurance Services L.L.C.

Terms of the transaction were not disclosed.

Oxford specializes in energy, construction, environmental and other complementary markets, Chicago-based Ryan said in a statement.

Oxford will become part of R-T Specialty L.L.C., Ryan Specialty Group’s wholesale brokerage unit, according to the statement. Oxford President and CEO Matt Galtney will become president of RT Houston and lead RT Specialty’s energy practice group.