Ryan Direct Group Completes Acquisition of Midas Underwriting

April 4, 2016

Ryan Direct Group, the subsidiary of Chicago-based Ryan Specialty Group, announced the completion of the acquisition of Midas Underwriting, which was completed on March 31, following regulatory approval. This transaction was previously announced on Jan. 6, 2016.

As part of Ryan Direct Group, Midas now has scale and presence in personal and commercial lines in both Northern Ireland and the Irish Republic, according to Doncaster, England-based RDG in a statement.

“Midas adds significant premium and distribution firepower to RDG’s fast growing home and commercial books, and it will extend the group’s reach into standard and non-standard private car,” said RDG.

When the acquisition was announced in January, Derek Coles, RDG’s CEO, commented that the acquisition will give RDG extra capability in niche and specialist lines in home, motor and commercial, complementing its existing portfolio in small and medium-sized enterprises (SMEs), property owners and landlords.

Source: Ryan Direct Group (RDG)

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