Ryan Specialty Group, LLC Announces the Merger of the Assets and Operations of S.H. Smith & Company Inc. into R-T Specialty, LLC
September 16, 2013, CHICAGO, IL – Ryan Specialty Group, LLC (RSG) today announced that it has reached agreement to merge S.H. Smith & Company, Inc. (SHS) into R-T Specialty, LLC. S.H. Smith & Company, Inc. is one of the largest privately-owned specialty brokerages in the country. Headquartered in Hartford, CT, the company is licensed in 50 states and works through a network of over 2,000 independent retail agents. Formed by Scott Smith in 1982, the company employs more than 90 team members and manages its business across four segments: Professional & Management Liability; Commercial Property & Casualty; In-House Underwriting; and Program Business.
Patrick G. Ryan, Chairman & CEO of RSG, says, “Scott Smith, the President of S.H. Smith & Company, Inc., is highly respected by the brokerage and carrier community. His existing operations and experience will become a basis for expanding RT’s presence in the Northeast, as well as our binding authority capabilities. We are excited Scott is joining RT’s senior leadership team.”
RT President & CEO, Timothy W. Turner adds, “Scott Smith has built a first-class organization and we are proud to add him to our senior management team. We are equally proud of the talented brokers and support personnel at S.H. Smith & Company, Inc. that will help RT grow and continue to provide best in class service to our customers and carriers.”
S.H. Smith & Company, Inc. President Scott Smith says, “Combining our specialty services with RT’s strong, national distribution model is a win-win for clients everywhere. We are excited about the opportunity to join our team with the fastest growing wholesale brokerage in the country.”
Terms of the transaction were not disclosed.
About Ryan Specialty Group, LLC and R-T Specialty, LLC
Ryan Specialty Group, LLC is a global holding company which includes wholesale broker R-T Specialty, LLC, a select group of highly-specialized underwriting companies, a Lloyd’s insurer and other specialty services designed specifically for agents, brokers and insurers. www.ryansg.com and www.rtspecialty.com