Ryan Specialty Group (RSG) has acquired New York-based Concord Specialty Risk, a managing general underwriter and consultant that provides transactional risk insurance and loss mitigation-evaluation services.
Terms of the deal were not disclosed.
Concord Specialty was founded by CEO David S. De Berry and his brother, President Kenneth W. De Berry.
David S. De Berry said the acquisition “help(s) the clients of our brokers strengthen bids, close transactions, facilitate syndications and offerings and obtain balance sheet protection. Combining with RSG will significantly enhance our capabilities to better serve our clients and trading partners. In addition, we believe that the star talent that RSG and RT Specialty, its wholesale brokerage unit has attracted, together with its strategic distribution network within the marketplace, will contribute greatly to our effort to reach a broader group of brokers whose clients can benefit from our products and services.”
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