Ryan Specialty Group LLC has acquired the assets and operations of The Suitelife, a program manager specializing in boutique hotels, premier and full service hotels, hotel management companies, condo hotels and resorts from Venture Insurance Programs. Terms of the transaction were not disclosed.
Suitelife is based in West Chester, Penn., and is now a part of RSG Underwriting Managers LLC (RSGUM), the managing general underwriting unit of Ryan Specialty Group (RSG). This transaction was previously announced on August 22, 2019.
Founded in 2010, Suitelife is a program manager that offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities. Its program management includes underwriting, design, administration and marketing and is distributed through independent agents and brokers.
Ryan Specialty Group LLC is an international specialty insurance organization designed specifically for brokers, agents and insurers, which includes specialized managing general underwriting companies (within RSG Underwriting Managers) and a wholesale brokerage firm (RT Specialty).
Source: Ryan Specialty Group LLC
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