Chicago-based Ryan Specialty Group L.L.C. announced Monday that its wholesale arm R-T Specialty L.L.C. has acquired assets and operations of Atlantic Star Intermediaries L.L.C. Terms of the transaction were not disclosed.
Atlantic Star Intermediaries, based in New York City, specializes in the wholesale brokerage placement of insurance for the construction and real estate industries, handling primary general liability, property, umbrella/excess liability and affiliated classes of business within these disciplines. In addition, Atlantic Star maintains binding authorities for mono-line owners and contractors protective liability and for mono-line railroad protective liability coverages.
R-T Specialty CEO Tim Turner said the acquisition enhances R-T’s construction and program capabilities, significantly expanding the firm’s presence in the New York region, one of the most complex construction marketplaces in the U.S.
Ryan Specialty Group is a global holding company which includes a wholesale brokerage, a select group of highly-specialized underwriting companies, a Lloyd’s insurer and other specialty services designed specifically for agents, brokers and insurers. Ryan Specialty Group was founded by Patrick G. Ryan, the retired chairman and CEO of Aon Corporation.
R-T Specialty is a subsidiary of Ryan Specialty Group, specializing in wholesale brokerage, MGA/MGU underwriting facilities and other services to agents, brokers and carriers.