Ryan Specialty Group, an international specialty insurance firm, has signed an agreement to acquire certain assets of Keystone Risk Partners LLC based in Media, Pennsylvania. Terms of the transaction were not disclosed.
Keystone Risk Partners was founded in 2002, and the principals have been in the alternative market since the 1980s, navigating through both hard and soft market cycles. Over the years, Keystone has developed partnerships with agents and brokers across the nation by bringing value to their agencies through a variety of alternative risk insurance solutions including customized captive insurance and other risk management services.
Founded in 2010, Ryan Specialty is a service provider of specialty products for insurance brokers, agents and carriers. It provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter.
The acquisition is expected to close later this month, subject to the completion of certain closing conditions. Dowling Hales served as exclusive financial advisor to Keystone.
Source: Ryan Specialty Group
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