Ryan Specialty Group (RSG) is hot on the acquisition trail. The specialty insurance firm announced on Friday (February 15) that it has reached an agreement to buy the assets and operations of Myron F. Steves & Company (Myron Steves), an independently owned wholesale insurance brokerage in Texas.
Myron Steves is headquartered in Houston, TX, and has additional offices in Austin, Dallas and San Antonio. Following the acquisition, the team will become part of RT Specialty, the wholesale brokerage unit of RSG. Myron Steves chairman Fred Steves said the two organizations “couldn’t be a better fit.”
“Joining forces with RT Specialty provides Myron Steves with a leading-edge platform and vast network of professionals with whom we can continue to grow our business,” he commented. “Our company has been in business for over a half century, and we’re now ready to move to the next phase. RT Specialty couldn’t be a better fit for our professionals as our cultures align both strategically and in the way in which we value our clients and our employees. We are looking forward to joining the RT Specialty team.”
Founded in 1955, Myron Steves has a long history of serving independent insurance agents in Texas and the Southwest. Its areas of expertise include commercial property and casualty, professional liability, healthcare, transportation, and personal lines. In a company release, RSG said the acquisition will strengthen its position in Texas by expanding RT Specialty’s presence in Dallas and Houston and gaining new offices in Austin and San Antonio.
“We’re thrilled to have the professionals at Myron Steves join RT Specialty,” remarked Tim Turner, chairman and CEO of RT Specialty. “Their expertise in commercial and personal lines, their state of the art technology, and the company’s deep and expansive relationships in Texas complement and further develop our business model. We’re looking forward to a great future together.”