Michael D. Rice, Sr. Announces His Intent to Retire from Ryan Specialty Group at Year-End 2020
July 6, 2020, CHICAGO, IL – Mike Rice, Sr. announces his intent to retire from Ryan Specialty Group, LLC (RSG) at the end of the year. Mike joined RSG in 2010 as Chairman and CEO of RSG Underwriting Managers, LLC (RSGUM) and will have completed eleven years of valuable service upon his retirement.
Patrick G. Ryan, Founder, Chairman and CEO of RSG, commented, “When Mike joined RSG in 2010, he committed to stay two possibly three years at the longest. Periodically over the last eleven years, I asked Mike to defer his retirement, and each time he selflessly agreed. He has done an outstanding job in leading our managing general underwriting business to great success. Mike has cultivated the RSGUM business from a start-up to one of the world’s largest collection of managing general underwriters with revenues in excess of $160m. In addition to serving as Chairman and CEO of RSGUM, Mike has served as a member of the Board of Directors of Ryan Specialty Group. On a personal note, Mike and I have worked together for over 50 years, 40+ years at Aon and over 10 years at RSG. We will miss Mike and are grateful for his outstanding leadership and counsel.”
Remarking on his intent to retire, Mike Rice, Sr. said, “I am fortunate to have been part of and contributed to the development and growth of two transformative entities in the insurance industry. While I look forward to turning my attention to personal endeavors, I will depart the Insurance world richer for the incredible opportunity to have worked closely with Pat Ryan for over 50 years, as well as many of the finest professionals the industry has known. I am truly grateful.”
About Ryan Specialty Group, LLC
Founded in 2010, Ryan Specialty Group, LLC is a leading international specialty insurance organization which includes a wholesale brokerage firm and highly specialized managing general underwriting companies designed specifically for brokers, agents and insurers. ryansg.com
About RSG Underwriting Managers, LLC
RSG Underwriting Managers, LLC (RSGUM) is the managing general underwriting division of Ryan Specialty Group and consists of a series of specialty managing general underwriters (MGU). Each MGU provides expertise in distinct and challenging market niches. RSGUM provides centralized governance, shared services and executive oversight to its specialty underwriting businesses. rsgum.com