RSG Announces Agreement to Acquire International Specialty Insurance
February 12, 2019, CHICAGO, IL – Ryan Specialty Group, LLC is pleased to announce that it has reached a definitive agreement to acquire the assets and operations of International Specialty Insurance Services Inc. (ISI), an independently owned managing general underwriter with offices in Winston-Salem, North Carolina. ISI’s team will become part of RSG Underwriting Managers, LLC (RSGUM), the managing general underwriting unit of Ryan Specialty Group (RSG).
ISI offers high-value disability and other related insurance products to athletes, entertainers, physicians, and other high-earning professionals. ISI’s strength is its knowledge of the high-value disability market and the continual development of new products and programs solving for the evolving needs of their clients in this space. The business is privately owned and led by Matthew Ferraro, Joseph Ferraro, and Christopher Larcheveque, who are some of the largest players in this unique market. All of these individuals, along with the whole team at ISI, will remain with the business under the new RSG ownership.
Patrick G Ryan, Founder, Chairman and CEO of Ryan Specialty Group, commented, “We are very much looking forward to having the professionals at ISI join our team at RSG. They have carved out a market niche and developed an expertise that complements the other businesses within our managing general underwriting division, RSGUM. With their high level of professionalism and underwriting acumen, we couldn’t be more pleased that ISI will be a part of our family.”
Remarking on the upcoming acquisition, Matthew Ferraro, Managing Director of ISI, said, “We are thrilled to be joining RSG and look forward to expanding our business on their efficient and superb platform. Developing new products will continue to be a critical element of expanding the business’ addressable market and driving growth. The RSGUM model is the perfect fit to allow us to capitalize on this goal.”
Terms of the transaction were not disclosed.
Sherman & Company LLC acted as financial advisor to ISI.
For more information, please contact Alice Phillips Topping, RSG’s Chief Marketing and Communications Officer, at: Alice.Topping@ryansg.com, 312-635-5976
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
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