R-T Specialty to Acquire American E&S from Wells Fargo

February 7, 2011

Chicago-based R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, has agreed to purchase the wholesale insurance business of American E&S Insurance Brokers (AES) from Wells Fargo Insurance Services.

R-T Specialty said it will acquire substantially all of the operating assets and related liabilities of AES, including eight office locations: San Francisco, Fresno and Irvine, Calif., as well as New York, Denver, Atlanta, Nashville and Seattle.

R-T Specialty said it will also hire nearly all of the employees in those office locations.

Neal Aton, president and CEO of Wells Fargo Insurance Services, said the sale of its excess and surplus (E&S) insurance wholesaler allows the company to focus on its core retail operations and other niche businesses including Wells Fargo Special Risks, which offers customers underwriting and backroom support services.

Patrick G. Ryan, Ryan Specialty Group chairman and CEO, said the transaction will increase Ryan Specialty Group’s wholesale operation and reinforce RSG’s presence in metropolitan and other key locations.

In recent months, R-T Specialty has also acquired professional liability intermediary Oakbridge Insurance Services of Connecticut and Southeast wholesaler McAuley Woods.

Latest Comments

  • February 24, 2011 at 7:02 am
    Fred says:
    First step before selling all their insurance holdings.
  • February 8, 2011 at 11:19 am
    Fly Away says:
    American E&S is now free of the overcontrolloing Wells Fargo. Now this group can show thier skills. Any Wells Fargo entity is being strangled by complaince and having to... read more
  • February 7, 2011 at 8:51 pm
    Bad Deals says:
    Funny how these insurance organizations are incapable of thinking beyond what they see right in front of their faces. The days of mergers & acquisitions are numbered, yet... read more
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