Ryan Specialty Group Announces Definitive Agreement to Acquire Interstate Insurance Management, Inc.
JANUARY 26, 2017, CHICAGO, IL – RSG Underwriting Managers (“RSGUM”) announced today its agreement to acquire 100% of the assets and operations of Interstate Insurance Management, Inc. (“Interstate”). Interstate is a leading transportation managing general agent founded in 1970 and led by Jack Buchan for the last 26 years. Headquartered in Johnstown PA, Interstate serves the greater mid-Atlantic region and maintains underwriting authority with multiple top transportation markets.
In addition to transportation coverages, Interstate underwrites specialty property and casualty coverages through its well established regional retail distribution network. Further, Interstate’s online portal presence has earned a reputation for rapid response and client efficency.
Miles Wuller, Chief Operating Officer of RSGUM, commented, “We are extremely pleased about Jack Buchan and his team choosing to join RSGUM. Since its inception RSGUM has remained vigilant, only entering new verticals when a clear expertise or unique market position can be achieved. Interstate’s leadership, approach, and decades of successful underwriting results exemplify RSGUM’s commitment to entering the transportation segment only with the right partner.”
Jack Buchan, President & CEO of Interstate, commented, “RSGUM is the perfect match for us. We are excited to be partnering with such an entrepreneurial, underwriting focused organization that will help us expand our geographic presence and product set while also giving our employees a continued path for growth and opportunity. RSGUM’s structural support will bring the incremental resources to support and accelerate our mission: providing the best products and services to our retail producers, while achieving superior underwriting results for our insurance carrier partners.”
Interstate was represented by Marsh, Berry & Company, Inc. Terms of the agreement were not released.
For more information, please contact:
Alice Phillips Topping
Chief Marketing and Communications Officer, Ryan Specialty Group
About Ryan Specialty Group
Founded in 2010, Ryan Specialty Group, LLC is an international holding company consisting of a wholesale broker, R-T Specialty, LLC, a series of underwriting managers, RSG Underwriting Managers, LLC, and an insurance service provider, Ryan Direct Group Limited, each servicing a client base of brokers, agents and insurance carriers. www.ryansg.com
About RSG Underwriting Managers
RSG Underwriting Managers, LLC (RSGUM) is the managing general underwriting division of RSG and consists of a series of specialty property and casualty managing general underwriters (MGU). Each MGU provides expertise in distinct challenging market niches. RSGUM provides centralized governance, shared services, and executive oversight to its specialty underwriting businesses. www.ryansg.com/rsgum