Insurance services provider Ryan Direct Group (RDG), a British subsidiary of Chicago-based Ryan Specialty Group, said it plans to acquire Northern Ireland-based MGA Midas Underwriting.
The terms of the agreement were not disclosed, but the acquisition is subject to regulatory approval.
RDG CEO Derek Coles said the acquisition will give RDG extra capability in niche and specialist lines in home, motor and commercial: “Midas is a specialist business, like RDG, and the Midas book complements our existing portfolio in [small and midsize enterprises], property owners and landlords, and additionally supports our medium-term aim of creating a balanced commercial and personal lines book.”
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
