R-T Specialty LLC, the wholesale brokerage unit of Ryan Specialty Group LLC based in Chicago, has acquired Los Angeles-based Chartwell Independent Insurance Brokers LLC.
Chartwell, founded in September 2004 by Ben Beazley, is a national wholesale/intermediary organization with expertise in tough-to-place property accounts. In recent years, Chartwell expanded its operations to include binding authorities and programs to complement its property/casualty capabilities.
Chartwell’s Managing Director and CEO Beazley says of the acquisition, “By joining forces with RSG/R-T Specialty, the Chartwell team will be able to bring greater services to our clients; RSG/R-T Specialty will benefit from the products and market relationships Chartwell has developed over the years.”
The founder and has revealed the management team and a second subsidiary for his new global specialty insurance operation whose first company was unveiled in December.
Patrick Ryan, the founder and retired chairman and CEO of the world’s largest insurance broker, Aon, launched Ryan Specialty Group (RSG) in February 2010 to offer specialty services to insurance brokers, agents and carriers. The company currently has three subsidiaries — ThinkRisk, Ryan Specialty (Europe) Ltd., and RT Specialty (RTS) in the United States and the United Kingdom.
Topics Mergers & Acquisitions Agencies Excess Surplus Independent Agencies
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