R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC in Chicago, announced that it has reached an agreement to acquire substantially all of the assets of Hartan Brokerage, a wholesale insurance brokerage operation based in New York City. Terms of the transaction were not disclosed.
Established in 1986, Hartan Brokerage is a wholesale broker and managing underwriting agent. The firm has been assisting the agency and broker retail community with carrier services and proprietary products since its inception.
R-T Specialty said the acquisition will enhance its presence in New York. Hartan Brokerage President Ed Pray and the firm’s approximately 30 employees will all join R-T Specialty as part of the transaction. Pray will serve as president of RT NY, the R-T Specialty office located in New York City.
R-T Specialty, a Delaware limited liability company, provides wholesale brokerage and other services to agents and brokers. Ryan Specialty Group currently has 1,601 staff members, including 815 at R-T Specialty.