Ryan Specialty to buy MGU for disability services sector

Ryan Specialty Group L.L.C. said Wednesday it has reached a definitive agreement to acquire managing general underwriter Irwin Siegel Agency Inc.

Terms of the transaction were not disclosed.

Rock Hill, New York-based Irwin Siegel’s specialties include developmental disability organizations, addiction treatment and behavioral/mental health care and youth programs, among others.

The firm’s operations will become part of RSG Underwriting Managers, the managing general underwriting division of Chicago-based Ryan Specialty Group. CEO Howard Siegel will continue in that role.

ISA, which has been a family-owned business for nearly 60 years, developed the first property/casualty insurance package specifically designed for nonprofit organizations serving individuals with disabilities, according to Ryan Specialty Group’s statement.