MGU Private Client Select Teams With Ryan Specialty on High Net Worth

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Private Client Select Insurance Services (PCS) said it has entered into an agreement with Ryan Specialty on a distribution partnership.

The independent managing general underwriter started by American Internal Group (AIG) and Stone Point Capital will use Ryan Specialty as its exclusive wholesale broker for U.S. high-net-worth and ultra-high-net-worth business.

AIG will continue to provide capacity and delegate underwriting authority and guidelines to PCS, and will allocate more excess and surplus lines capacity to meet needs. AIG will also provide exclusive E&S paper in all 50 states through Marbleshore Specialty Insurance Company, subject to regulatory approval.

“Our distribution partnership with Ryan Specialty will advance PCS’s transformation into a best-in-class managing general underwriter in the high- and ultra-high-net-worth markets,” said Christopher Flatt, interim CEO of Private Client Select. “Ryan Specialty complements PCS’s deep underwriting, portfolio management, distribution and technological expertise, and together, we are ideally positioned to more efficiently deliver differentiated capabilities and services to our retail partners and clients.”

“PCS’s exclusive wholesale distribution partnership with Ryan Specialty is a major milestone for PCS and AIG and creates the ability to access the market with an industry leader in the wholesale segment with the infrastructure, expertise and unique capability to profitably scale businesses,” said Peter Zaffino, chairman and CEO of AIG.

Pat Ryan, found, chairman and CEO of Ryan Specialty said the partnership “will further enhance our national wholesale brokerage business and the superior service Ryan Specialty provides to our high-net-worth customers.”

Topics Insurance Wholesale

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