Ryan Specialty Group, LLC has reached a definitive agreement to acquire the assets and operations of International Specialty Insurance Services Inc. (ISI), an independently owned managing general underwriter with offices in Winston-Salem, North Carolina.
ISI’s team will become part of RSG Underwriting Managers, LLC (RSGUM), the managing general underwriting unit of Ryan Specialty Group (RSG).
ISI offers disability and other related insurance products to athletes, entertainers, physicians, and other high-earning professionals. The business is privately owned and led by Matthew Ferraro, Joseph Ferraro, and Christopher Larcheveque. All of these individuals, along with the whole team at ISI, will remain with the business under the new RSG ownership.
According to Patrick G Ryan, founder, chairman and CEO of Ryan Specialty Group, ISI has carved out a market niche and developed an expertise that complements the other businesses within RSG’s managing general underwriting division, RSGUM.
Terms of the transaction were not disclosed.
Sherman & Company LLC acted as financial advisor to ISI.
Ryan Specialty Group includes a wholesale brokerage firm and managing general underwriting companies designed for brokers, agents and insurers.
Topics Mergers & Acquisitions Excess Surplus Insurance Wholesale North Carolina
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