Ryan Specialty completes Ardonagh deal
Ryan Specialty completes Ardonagh deal | Insurance Business America
Insurance News
Ryan Specialty completes Ardonagh deal
Firm to be integrated into financial lines unit
Insurance News
By
Terry Gangcuangco
US-based Ryan Specialty has completed its acquisition of certain Geo Underwriting Europe assets from British intermediary The Ardonagh Group.
Based in Rotterdam, Netherlands, Geo Underwriting Europe is a managing general agent specialising in financial lines. The business also operates in Germany.
Under the now completed deal, the European MGA will be integrated into the financial lines unit within the Ryan Specialty Underwriting Managers division of Ryan Specialty. The business is led by Walter Craft, who is joining the executive committee at Ryan Financial Lines.
When the transaction was first announced in September, Ryan Financial Lines chief executive Jamie Bouloux said: “We are very much looking forward to having the Geo Europe team join Ryan Financial Lines as we look to intensify our offering across Europe.
“The team has an impeccable market reputation and has produced excellent results to date. Their culture of hard work, strong personal relationships, and business acumen dovetails nicely with Ryan Specialty.”
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