R-T Specialty LLC announced March 24 that it had reached an agreement to acquire the assets of Hartan Brokerage, a New York City-based wholesale insurance brokerage operation.
Terms of the transaction were not disclosed.
R-T Specialty, a wholesale brokerage unit of
Ryan Specialty Group LLC, said that the acquisition will improve its foothold in the New York area.
Following the transaction, all of Hartan Brokerage—all 30 employees of the brokerage and President Ed Pray—will join R-T Specialty; Pray will serve as president of R-T NY.
RT Specialty Chairman and CEO, Timothy W. Turner said, “Ed has built a superior wholesale brokerage operation and MGA that will enhance our presence in New York. We are thrilled to have Ed and his dynamic team join us at RT Specialty.”
Ed Pray, President of Hartan Brokerage, remarked, “We could not be happier and more excited to be part of RT Specialty. I believe our combined team in New York has no equal. As President of RT NY, I look forward to expanding our capabilities by attracting new talent and offering our retail clients the best products and service available in the marketplace. In keeping with the tradition that Hartan has established combined with the strength and scope of RT Specialty, we will continue to provide creative solutions for our retail clients. In short, it is a perfect fit, and we look forward to being part of the RT family.”
Hartan Brokerage, established in 1986, is a wholesale broker and managing underwriting agent.
