Ryan Specialty, AJG, AmWINS Make Acquisitions

NU Online News Service, Feb. 11, 2:01 p.m. EST

Three insurance brokerage firms announced acquisitions this week, with Ryan Specialty Group announcing two and AmWINS announcing a total of three.

Chicago-based Ryan Specialty Group, a wholesale brokerage holding company, said it acquired Concord Specialty Risk, Inc. and Ryan's subsidiary, R-T Specialty, LLC, will acquire American E&S Insurance Brokers from Wells Fargo Insurance Services.

Established in 1980, American E&S Insurance (AES) is the wholesale insurance business subsidiary of Wells Fargo Insurance, a subsidiary of the San Francisco-based bank Wells Fargo & Co. The firm is a full-service wholesaler offering extensive market access and in-house binding authorities. Focused on professional specialty products for the excess and surplus market, it provides a link between independent insurance providers and specialty underwriters.

As part of the deal, R-T will acquire all of the operating assets and related liabilities of AES and eight office locations:

• San Francisco

• Fresno, Calif.

• Irvine, Calif.

• New York

• Denver

• Atlanta

• Nashville

• Seattle

In a statement, Neal Aton, president and chief executive officer of Wells Fargo Insurance said the deal would allow the firm to focus on its retail core operations and niche businesses, including Wells Fargo Special Risks.

In its acquisition of New York-based Concord Specialty Risk, Ryan Specialty has acquired a managing general underwriter and consulting firm.

The firm, headed by CEO David S. De Berry, and Kenneth W. De Berry, president, brings more than two decades of experience in underwriting transactional risk insurance. The firm provides solutions for equity funds, investment funds, tax directors, corporate growth managers, auditors, lawyers, investment bankers and insurance brokers and wholesalers.

Patrick G. Ryan, RSG Chairman and CEO, formerly chief executive of insurance broker Aon, said the AES acquisition was a strategic move that increases the breadth and scope of its specialty wholesale operation. The Concord Specialty transaction will help clients and trading partners.

No additional information about the firms was available.

Charlotte, N.C.-based AmWINS Group, Inc. said it has acquired American Southwest Insurance Managers, Inc. (ASIM), Excel General Agency, Inc. and Oakwood Software Insurance Solutions, LLC.

Founded in 1990 by Jim S. Whited and Debra A. Williams, Richardson, Texas-based ASIM is a major independent managing general agent for non-standard automobile insurance in Texas. Through Statewide Claims Service, ASIM's in-house claims and appraisals division, ASIM serves as an independent third party claims administrator.

Regarding its other two acquisitions, Excel and Oakwood, Frisco, Texas-based Excel is also a non-standard automobile managing general agency servicing independent agents of Texas.

Plano, Texas-based Oakwood is a technology company that provides a complete policy and claim administrations system to automobile insurance companies, managing general agencies and large independent agents. With the acquisition of Oakwood and its OSIS system, AmWINS said it has acquired a leading edge technology platform for the automobile insurance sector.

Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it has acquired James F. Reda & Associates, LLC, in New York.

Formed in 2004, James F. Reda & Associates, LLC is an executive compensation and corporate governance consulting firm to both publicly-traded and privately-held clients throughout the United States. They also specialize in the development of total rewards strategies, competitive market reviews, change-in-control and severance analysis, equity strategy and valuation techniques, and assessments of relative company performance.

James F. Reda, the principal, and his staff, a total of 10 employees, will continue to operate at their current location under the direction of William Ziebell, North Central Regional Executive Vice President of Gallagher's employee benefit consulting and brokerage operations.

Financial terms of all the transactions were not released.