NU Online News Service, Sept. 23, 1:49 p.m.EDT

Ryan Specialty Group, LLC (RSG) says it has completed itsacquisition of specialist Lloyd's insurer Jubilee Group HoldingsLimited.

The acquisition was originally announced in May 2011.

RSG says Jubilee currently operates two active Syndicates atLloyd's: a managing agency and specialist underwriting distributionand insurance service businesses.

Patrick G. Ryan, chairman and CEO of RSG, says in a statement,“We believe there is a real opportunity in the specialty marketsand Jubilee's existing platform focuses on specialtyinsurance—specialties that we know. This acquisition will allow usto introduce and support new products and programs in globalmarkets in a meaningful way. Jubilee's presence within Lloyd'suniquely enhances the execution of our overall strategy of offeringand delivering preeminent providers of specialty products andservices to the insurers, brokers and agents we serve.”

RSG also announces that Johnny Rowell, managing director of RyanSpecialty Europe Limited, is appointed chief executive of Jubilee;Miles Wuller is appointed Chief Financial Officer; JonathanMatthews, previously chief risk officer of Liberty SyndicateManagement Limited, is appointed chief operating officer; andMalcolm McCaig, formerly a big four audit partner, is named as anindependent non-executive director.

Additionally, Max Taylor, a former chairman of Lloyd's of Londonand deputy chairman of Aon UK, will be non-executive chairman ofJubilee's board.

On its website, Jubilee describes itself as “a multi-nicheLloyd's insurer delivering innovative products, marketing,distribution and service solutions across its specialtyconsumer lines, global property and life businesses.”