Ryan Specialty Group and All Risks to merge
Ryan Specialty Group, LLC (RSG) and All Risks, Ltd. (All Risks) are pleased to announce they have signed a definitive agreement to merge. The two firms are insurance specialists with strengths that complement one another. Both have proven track records of excellence in transactional wholesale distribution and managed underwriting businesses in the form of managing general underwriters, programs and delegated binding authorities. RSG is headquartered in Chicago, IL and All Risks in Delray Beach, Florida; each entity has a national US footprint complemented by RSG’s European operations.
Patrick G. Ryan, Founder, Chairman and CEO of RSG, remarked, “We are pleased to join with a company that has an outstanding culture, exceptional talent and is a strong strategic fit with Ryan Specialty Group. We both have established ourselves as leading participants in the specialty insurance distribution sector. RSG has always admired the high quality of talent at All Risks and their very strong management teams, led by Nick Cortezi and Matt Nichols. Both Nick and Matt will continue in senior executive roles. Because of the similar cultures, long term strategy, and high quality of people, together, the resultant blended firm will create an even stronger, enhanced trading partner with a broader offering of services for our clients and insurance carriers. The opportunities for our employees are even more robust by the merging of our two firms. I’m very bullish on our future together and the additive value that we will bring to the industry.”
Nick Cortezi, CEO of All Risks, commented, “We could not be more excited to join forces with RSG. Over the past decade, both All Risks and RSG have invested significantly in developing the talent, the tools, and the resources necessary to provide opportunity to our people and exceptional service to our clients. Our strengths are complementary. In coming together to form one unified company, we are positioning ourselves to the greater benefit of our employees, our retail partners, and our carrier partners. Matt Nichols and I have known and admired Pat Ryan and Tim Turner for many years. We and the All Risks leadership team look forward to working with them and supporting them in the years to come.”
Ryan Specialty Group is celebrating its 10th anniversary in 2020 and consists of RT Specialty, a wholesale brokerage firm, and RSG Underwriting Managers, a specialty underwriting organization within which there are 21 specialized managing general underwriters. RSG is approaching $12 billion in premium in 2020.
Formed in 1964, All Risks has grown from a one office excess and surplus lines brokerage facility to a national wholesale broker, managing general agency, and program administrator. Over the past 30 years, continued reinvestment in talent has resulted in an 18% average annual organic growth rate. With offices across the country and over 850 employees, All Risks is projecting $2.6 billion in premium in 2020.
Terms of the transaction were not disclosed.
