Ryan Specialty Group, All Risks agree to merge
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Ryan Specialty Group LLC and All Risks Ltd. have agreed to merge, the companies said Tuesday.
Terms of the deal were not disclosed.
Chicago-based Ryan Specialty Group, which is marking its 10th anniversary this year, consists of RT Specialty, a wholesale brokerage firm, and RSG Underwriting Managers, a specialty underwriting organization that includes 21 specialized managing general underwriters, the statement issued said. It is approaching $12 billion in 2020 premium, according to the statement announcing the deal.
Delray Beach, Florida-based All Risks, which was formed in 1964, has more than 850 employees and projects $2.6 billion in 2020 premium.
Ryan Specialty Group ranked as the third-largest property/casualty wholesaler, according to Business Insurance’s 2018 ranking, while All Risks held fourth place.
Private equity investment firms Oak Hill Capital Partners and The Carlyle Group on Friday said they have formed a holding company that will house retail brokerage EPIC Insurance Brokers & Consultants and wholesaler and managing general agent JenCap Holdings LLC.
JenCap ranked No. 8 among the largest property/casualty wholesalers.
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