International specialty insurer, Ryan Specialty Group, LLC (RSG) has reached an agreement to acquire certain assets of ARC Specialty Brokerage, LLC (ARC Specialty), the property and casualty division of ARC Excess & Surplus, LLC (ARC). Terms of the transaction have not been disclosed.
ARC is a Jericho, NY-based wholesale brokerage that specializes in management and professional liability insurance needs and P&C needs. The ARC Specialty team will join RT Specialty, the wholesale brokerage unit of RSG, in RT Specialty’s Long Island office in Melville, NY.
ARC Specialty will continue to operate in the wholesale space along with its MGU, Professionals Risk Facilities, Inc. Current producers of ARC Specialty will join RT Specialty, including Mike Vollaro, a well-respected wholesale brokerage professional and specialist in New York construction.
“The expertise of Mike and his team will complement and strengthen RT’s prominent position in New York and specifically NY Construction,” said Tim Turner, chairman and CEO of RT Specialty. “We’re excited to have the professionals from ARC Specialty join our team.”