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Mike Rice Sr., chairman and CEO of RSG Underwriting Managers LLC, a Ryan Specialty Group LLC division, plans to retire at the end of the year, the company said Monday.
RSG chairman and CEO Patrick G. Ryan said in a statement that Mr. Rice, who joined RSG in 2010, had cultivated RSG Underwriting Managers from a start-up to one of the world’s largest collections of managing general underwriters, with more than $160 million in revenues.
Mr. Rice has also served as a member of Ryan Specialty Group’s board of directors.
No replacement for Mr. Rice has been named, according to a spokeswoman.
Chicago-based Ryan Specialty Group LLC on Monday said it will open an office in Barcelona and has hired four former AmTrust Group executives as it looks to expand its transactional risk business in Europe.