Chicago-based Ryan Specialty Group LLC has reached a definitive agreement to acquire the assets and operations of Westphalen Insurance Services Inc. (Westphalen), an independently owned wholesale insurance brokerage located in Edmond, Oklahoma.
The Westphalen team will become part of R-T Specialty LLC (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma.
Founded in 1987, Westphalen is a long-time family run business which focuses on property/casualty, personal lines and transportation. The firm has binding authority commitments within each segment with ‘A’ rated XV carriers.
Led by Jeff Westphalen, Westphalen has established itself as a leader in its market, providing superior solutions, service and access to excellent capital.
Terms of the transaction were not disclosed.
Source: Ryan Specialty Group LLC
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