NU Online News Service, Jan. 6, 110:20 a.m.EST
|Ryan Specialty Group says it has acquired Global Special Risks,a provider of product offerings for the energy and marine marketsin London and North America.
|Global Special Risks (GSR) is a specialty underwriting managerfrom Willis North America, a part of Willis Group Holdings.
|Joe Plumeri, chairman and CEO of Willis, says in a statementthat joining GSR with RSG “is a good move for its team and energyclients.”
|Terms of the deal were not disclosed. Ryan Specialty says GSRwill become a part of RSG Underwriting Managers.
|Patrick G, Ryan, chairman and CEO RSG, says the purchase of GSR“brings a unique perspective to our specialty insurance offerings,providing our clients with an efficient underwriting platform andproduct distribution network of high-quality, front-end servicesfor energy and marine clients.”
|GSR, formed in 1979, offers products such as well control,comprehensive general liability, excess liability, contractor'sequipment, professional liability, business interruption, cargo andmaritime employer's liability, among others.
|In September last year RSG entered the Lloyd's market with the completion of it buy ofJubilee Group Holdings Ltd., a managing agency and specialistunderwriting distribution and insurance service businesses.
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