Conventional wisdom would say that the time to start a wholesale business is not in the middle of a soft market, when the demand for that business suffers. But Patrick Ryan, the former chief executive of Aon Corp, believes otherwise, saying that the time is ripe for the business model he has brought to the marketplace.
Mr. Ryan spoke to NU's E&S/Specialty Lines Extra last week, explaining why he has turned his attention to wholesale, managing general agency and brokerage service businesses with the creation of Ryan Specialty Group and the launch of Ryan Specialty (Europe) Ltd.
"When there are problems, there are opportunities–and there are a lot of problems out there," he said.
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