Ryan Specialty Group (RSG) has announced the acquisition of Boston Insurance Specialists (BIS), a family-owned wholesale insurance brokerage with offices in Mansfield and Westfield, MA.
BIS was founded in 2001 by Debbie Murphy and Peggy Giancola. The independent brokerage represents and has binding authority with some of the top excess & surplus lines carriers in the United States and London. Its specialty product solutions include property, casualty, professional liability and personal lines.
Following the deal, BIS will become part of RT Specialty, the wholesale brokerage unit of RSG.
Debbie Murphy, president of BIS, commented: “We’re excited about joining RT Specialty. We view this evolution of our firm as a fantastic opportunity to maintain our local presence while expanding the products and services we offer to our retail broker clients. Our entire BIS team will be joining RT Specialty, and we couldn’t be happier.”
The acquisition will enhance RT Specialty’s presence in New England. RT Specialty chairman and CEO, Tim Turner, remarked: “I’ve known Debbie and Peggy for many years and have great respect for them and the firm they’ve built. Their knowledge and level of service is top among their peers. We’re thrilled to have them join the RT Specialty team.”
Terms of the deal have not been disclosed.