Ryan Specialty announces launch of international financial lines MGU
Ryan Specialty announces launch of international financial lines MGU | Insurance Business America
Insurance News
Ryan Specialty announces launch of international financial lines MGU
Move will combine the operations of several subsidiaries
Insurance News
By
Ryan Smith
Ryan Specialty has announced the launch of an international financial lines managing general underwriter, Ryan Financial Lines.
The MGU was created by unifying the operations of MGUs and programs that are currently part of Ryan Specialty Underwriting Managers (RSUM). These are: Emergin Risk, StarPoint Executive Risks, Ryan Specialty Nordics, Capital Bay, and the professional liability portfolios that were historically housed within Ryan Specialty National Programs.
The formation of Ryan FInancial Lines will continue through the first half of 2024 as the alignment of operations and capital is completed, Ryan Specialty said. The MGU will have operations across the US, Latin America and London and provide a spectrum of products and services for the small-to-middle market enterprise and large insured market, including:
Cyber, technology E&O, miscellaneous E&O, and media liability
Executive management liability solutions
Financial institutions executive and professional liability solutions
Financial lines facultative reinsurance solutions
A multiline international claims operation
Ryan Specialty has appointed Jamie Bouloux as CEO of Ryan Financial Lines. Bouloux joined the company in 2015 to launch Emergin Risk, a specialist cyber MGU. In his new role, Bouloux will be responsible for the unification of the various MGUs forming Ryan Financial Lines and the development of the new organisation’s strategy going forward. As he transitions to the new role, he will hand leadership of cyber off to George Paraskeva, currently president of Emergin Risk.
“Bringing together the financial lines and professional liability talent at RSUM will provide greater synergies and efficiencies to further enhance the solutions and services for our clients and carrier partners,” said Miles Wuller, president and CEO of Ryan Specialty Managing Underwriters. “This unified approach will bring together our expanding network of expertise of more than 70 teammates based across a number of key territories.”
“I’m humbled and honoured to be working more closely with these outstanding professionals,” Bouloux said. “By bringing together the niche talent, we have an extremely strong foundation from which to build. Beyond the named, the unified entity presents a comprehensive bench of product experts and underwriters who will work collaboratively to develop a more robust and localised underwriting and claims operation to better service our clients. Together, we are very much looking forward to further enhancing our offerings in the financial lines space, working to build a global platform that continues to attract talent and provide strong returns to our trading partners.”
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