Chicago, IL – 6/17/14 – Ryan Specialty Group, LLC (RSG) announces the formation of RSGUM Healthcare, a new healthcare and life science underwriting facility, in partnership with some of the strongest and most experienced healthcare and life science Underwriters at Lloyd’s of London. Lloyd’s support for this comes from Amlin, Chaucer, Catlin, Hiscox, Atrium, Ren Re and Dale, resulting in the largest, single healthcare coverholder arrangement in Lloyd’s. The facility was developed in partnership with RKH Insurance Brokers in London.
The landmark underwriting facility brings together the well-respected RSGUM businesses of Sapphire Blue and LifeScienceRisk under a single underwriting facility. It will target a broad array of healthcare and life science business. Targeted healthcare classes include long-term care, allied healthcare, specialty and rehabilitation hospitals, and standalone extended reported period products. The life science classes include generic pharmaceuticals, branded pharmaceuticals, medical products, nutritional supplements and clinical trials. The facility will offer primary and up to $25m in excess coverage for professional, general and products liability coverage, placing the new underwriting facility among the very few to offer $25m in capacity across such a broad range of products.
RSG’s Chairman and CEO, Patrick G. Ryan, says of the new RSGUM Healthcare facility, “We are extremely pleased to announce this important new partnership with some of the most experienced Lloyd’s healthcare and life science syndicates. It represents an important step toward our goal of enhancing our specialty underwriting operations and providing to our clients resources that go well beyond the traditional approach. This new underwriting management platform, with solid relationships in the London markets, is integral to RSG’s overall strategy of providing added and measurable value to the insurance marketplace and creating risk management solutions to the unique challenges facing these two critical industries.”
The RSGUM Healthcare underwriting team has decades of experience in healthcare and life science risks. The overall facility will be managed by Kieran Dempsey, CEO of RSGUM Healthcare. Medical professional liability business will be underwritten and managed by Nancy McMahon, CEO of Sapphire Blue. Products liability business will be underwritten and managed by Mark Wood, CEO of LifeScienceRisk.
About Ryan Specialty Group, LLC
Ryan Specialty Group, LLC (RSG) is a global holding company which includes highly-specialized underwriting companies under the RSG Underwriting Managers, LLC brand, a London operation, wholesale brokerage and other specialty services designed specifically for agents, brokers and insurers. RSG Underwriting Managers Sapphire Blue and LifeScienceRisk are among the earliest members of the RSG family of companies. www.ryansg.com