Ryan Specialty Group
has acquired the insurance agency operations of The Navigators Group in Sweden and Denmark, according to a news release.
The transaction represents a 100% acquisition of Navigators’ corporations in Sweden and Denmark — NUALAB and Navigators A/S, respectively. Local Navigators employees will be continuing their employment with RSG, and Sverker Edstrom will stay on as head of the Stockholm operation, while Thomas Harrild will continue to head up the Copenhagen office.
The new RSG offices will be renamed RSG Sweden and RSG Denmark, according to the release. They will partner with Navigators to continue to bring customers in those countries management and professional liability products.
“This transaction supports Navigators’ strategic focus on serving clients across continental Europe,” said Michael J. Casella, Navigators’ president of international insurance. “Our partnership with RSG will enable us to more efficiently serve clients in these markets while still providing them with the innovative products and financial strength Navigators is known for.”
”Equally, this furthers RSG’s European expansion plans,” said Michael D. Rice, chairman of RSG Underwriting Managers, LLC, a subsidiary of RSG. “We are very pleased to be able to further develop our strong relationship with Navigators with this transaction.”