Chicago-based R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, reports it has closed on the acquisition of American E&S Insurance Brokers (AES) from Wells Fargo Insurance Services.
RT Specialty acquired the operating assets, including eight AES office locations: San Francisco, Fresno and Irvine, Calif., as well as New York, Denver, Atlanta, Nashville and Seattle. R-T Specialty has said it will also hire nearly all of the employees in those office locations.
With this acquisition, R-T Specialty now has 22 office locations across the country.
Wells Fargo Insurance Services said the sale 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.
The firms announced plans for the deal last month.
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