Ryan Specialty Group, LLC Announces RT Specialty Acquisition of Atlantic Star Intermediaries
October 1, 2012, CHICAGO, IL – Ryan Specialty Group, LLC (RSG) today announced the R-T Specialty, LLC (RT Specialty) acquisition of the assets and operations of Atlantic Star Intermediaries, LLC. RT Specialty is the wholesale arm of RSG. Atlantic Star specializes in the wholesale brokerage placement of insurance for the construction and real estate industries, handling primary general liability, property, umbrella/excess liability and affiliated classes of business within these disciplines. In addition, Atlantic Star maintains binding authorities for mono-line Owners and Contractors Protective Liability and for mono-line Railroad Protective Liability coverages. Terms of the transaction were not disclosed.
RT Specialty President and CEO Tim Turner said, “The acquisition of Atlantic Star enhances RT’s construction and program capabilities, significantly expanding our presence in the New York region – one of the most complex construction marketplaces in the U.S. We look forward to working with Atlantic Star President Frank Corda and his seasoned team of brokers to manage the tough challenges facing clients today with their construction risks.”
Frank Corda, President of Atlantic Star, added, “Joining Ryan Specialty Group, particularly RT Specialty – one of the industry’s leading and fastest growing national wholesalers – will strengthen our regional capabilities and enhance our national program platform. Combining our service and underwriting capabilities with RT’s unique business model is a win-win for all of us.”
About Ryan Specialty Group, LLC (RSG)
Ryan Specialty Group, LLC is a global holding company which includes a wholesale brokerage, a select group of highly-specialized underwriting companies, a Lloyd’s insurer and other specialty services designed specifically for agents, brokers and insurers. www.ryansg.com