Ryan Specialty Group Completes Sale of Ryan Direct Group
June 23, 2017, CHICAGO, IL – Ryan Specialty Group announced today the completion of the sale of Ryan Direct Group (“RDG”) to KIRS Group.
Based in Doncaster, UK, Ryan Direct Group is a leading provider of insurance distribution and claims handling services. The senior leadership team of RDG, led by Derek Coles, CEO, and Scott Hough, CFO, will continue to lead the business, which will operate under the name Direct Group.
Commenting on the sale, Patrick G. Ryan, Founder, Chairman and CEO of Ryan Specialty Group said, “RDG is a strong company that is a great strategic fit with their new organization. We are pleased that our Direct Group colleagues are joining a firm that will continue to enhance their opportunities.”
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, and managing general underwriters operating through RSG Underwriting Managers, each servicing a client base of brokers, agents and insurance carriers. www.ryansg.com
About KIRS Group
KIRS Group is the holding name for the company created by HPS Investment Partners (“HPS”) and Madison Dearborn Partners (“MDP”), bringing together Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate. The Group harnesses market leading positions spanning the breadth of UK general insurance market with global reach to serve international clients, employing over 5,000 people across more than 100 locations throughout the world. The brand name of the enlarged group will be announced in due course. www.kirsgroup.co.uk