Global specialty insurance firm
Ryan Specialty Group (RSG) is expanding its footprint in the London market with the acquisition of a local managing general agent.
RSG will acquire Hunter George & Partners Ltd., a specialist MGA known for its insurance solutions for mergers and acquisitions. Hunter George founders Ian Theato and Tim Martin will continue to lead the business from London, where they will focus on highly specialized underwriting in the rapidly growing areas of warranty and indemnity, commercial tax liability and contingent risk insurance.
Patrick G. Ryan, chairman and chief executive officer of RSG, commented: “Ian and Tim have built an outstanding platform in M&A insurance, a market segment of global importance to RSG. We are excited to add Hunter George to our growing MGA operation in London.”
Peter McKenna, who leads RSG’s MGA strategy in European M&A, said the company was a good fit for the RSG portfolio due to its underwriting talent, market contacts and reputation in the M&A segment in the EU.
“Operating as a coverholder in the London market, Hunter George enables us to offer innovative solutions for our clients,” McKenna said.
Martin and Theato added: “We are delighted to be joining RSG where we will benefit from the extensive experience and global relationships of the leadership team. We believe this combination will enable us to scale our platform quickly to seize the exciting market opportunity in European M&A. We also view the entrepreneurial culture of RSG as a perfect fit for our team.”
The acquisition is subject to regulatory approval. Terms of the transaction were not disclosed.
Ryan Specialty Group, LLC is a global holding company which includes a wholesale brokerage, highly-specialized underwriting companies and specialty services designed specifically for agents, brokers and insurers.
