Change in Direction Announced by Ryan Specialty Group’s ThinkRisk Underwriting Agency and Great American Insurance Company
January 14, 2013, CHICAGO, IL – ThinkRisk Underwriting Agency (ThinkRisk), part of Ryan Specialty Group, and Great American Insurance Company (Great American), part of Great American Insurance Group, have mutually agreed that due to increasing channel conflicts within Great American, ThinkRisk will pursue a change in carrier partnerships for its Converging Risk program which has been supported by Great American for the past three years.
RSG Chairman Patrick G. Ryan says of the change, “At RSG, our goal is to build strong underwriting management companies that focus on growth and innovation. We respect and appreciate the support and contributions made by Great American to the growth of ThinkRisk.”
ThinkRisk President Nicole Haggerty added, “We are grateful for our relationship with Great American, and for the support they have provided for the Converging Risk program. We are optimistic about the new opportunities and products that ThinkRisk will deliver to our producers and clients in the future.”
Bruce R. Smith, President, Great American Insurance Group’s Executive Liability Division, noted, “We value our relationship with ThinkRisk and are committed to working with their team to ensure an orderly transition of this program. We are looking forward to pursuing other opportunities to work with RSG in the future. Great American’s Executive Liability Division has been serving the insurance marketplace for 26 years, and we look forward to continuing to be a carrier of choice for our producers and insureds.”
ThinkRisk will continue to manage the Converging Risk Program, on behalf of Great American, until April 30th 2013.
For more information on this release, contact Chelsey Krull, (312) 784-6043, firstname.lastname@example.org.
About Ryan Specialty Group, LLC and ThinkRisk Underwriting Agency
Ryan Specialty Group, LLC is a global holding company which includes ThinkRisk Underwriting Agency and other highly-specialized underwriting companies, a Lloyd’s insurer and specialty services designed specifically for agents, brokers and insurers. www.ryansg.com
About Great American Insurance Group and Great American Insurance Company
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company (Great American). Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities. Great American has received an “A” (Excellent) or higher rating from the A. M. Best Company for over 100 years (most recent rating evaluation effective March 29, 2012). The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol AFG. www.greatamericaninsurancegroup.com