RSG to buy Pennsylvania alternative risk specialist

Ryan Specialty Group said Monday it has signed a definitive agreement to acquire Keystone Risk Partners LLC, based in Media, Pennsylvania.

Terms of the transaction were not disclosed.

Founded in 2002, Keystone provides customized captive insurance and other risk services to agents and brokers.

Keystone generated about $8 million in revenue for the 12 months ended Nov. 30, RSG said. It has 22 employees, according to LinkedIn.

The deal is expected to close later this month.