NU Online News Service, Dec. 13, 4:09 p.m. EST
Ryan Specialty Group, LLC said its wholesale brokerage unit, R-T Specialty, LLC, has acquired OakBridge Insurance Services, LLC.
Financial terms of the transaction were not released.
Chicago-based RSG said OakBridge, based in Bloomfield, Conn., is a major specialty insurance broker specializing in executive and professional liability exposures and insurance solutions. The company was organized in 2005 as the successor to Carpenter Moore Insurance Services' Eastern U.S. operations.
The company, with a total of 27 employees, has offices in California, Minnesota, New Jersey and Ohio.
The firm features the directors and officers blog D&O Diary Page of Kevin M. LaCroix, an attorney and partner in the firm.
Alex Jezerski, a managing member of OakBridge, said in a statement, "RT Specialty has presented us with a once in career opportunity that will allow us to combine the expansive RT resources and existing talent pool with our unique business model, intellectual property and claims advocacy skills. The synergies between the two firms will be extraordinarily beneficial to our existing retailers and prospects."
Tim Turner, president and chief executive officer of RT Specialty, in the same statement said that RT Specialty's mission is to assemble the "best and the brightest wholesale brokers in the country" and OakBridge is "among the very best nationwide in the executive and professional liability arena."
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