Ryan Specialty expands in Texas with wholesaler buy

Ryan Specialty Group LLC said Friday it has agreed to acquire the assets and operations of Houston-based wholesale insurance brokerage Myron F. Steves & Co., expanding its presence in Texas.

Terms of the transaction were not disclosed.

In a statement, Chicago-based Ryan Specialty Group said the Myron Steves team will become part of its wholesale brokerage unit R-T Specialty LLC and will strengthen its presence in Dallas and Houston while establishing offices in Austin and San Antonio, Texas. Over 125 Myron Steves staff will be joining Ryan.

Founded in 1955, Myron Steves offers commercial property/casualty, professional liability, health care, transportation and personal lines, said Ryan Specialty in the statement.