RT Specialty, LLC Enters into Definitive Agreement to Acquire International Facilities Insurance Services (IFIS), a Leading West Coast Workers’ Compensation Wholesaler
December 28, 2012, Chicago, IL – RT Specialty, LLC (RT), the brokerage arm of Ryan Specialty Group, LLC, today announced a definitive agreement to acquire leading West Coast workers’ compensation specialist International Facilities Insurance Services (IFIS)*.
A privately-held, independent wholesaler, IFIS has built an industry leading workers’ compensation specialty, complemented by general commercial liability wholesale activities with expertise in oil and gas, and in trucking and transportation risks. IFIS will become part of RT effective January 1st, 2013. Terms of the agreement were not disclosed.
RT President and CEO, Tim Turner says of the acquisition, “IFIS has built a robust workers’ compensation platform that includes strong relationships within the retail brokerage community, emphasizes ease of doing business, speed and a choice of multiple markets and solutions for workers’ compensation risks. The acquisition of IFIS rounds out our capabilities to provide broking services across the full spectrum of risk classes.” Turner added, “Working with IFIS and its executive team, we look forward to building a national platform that will offer our clients solutions to the tough workers’ compensation challenges they face.”
President and Chairman of IFIS, Anthony Woodcock says, “We are very pleased to join forces with RT. We believe there is a clear ‘fit’, a similar culture, and a mutual respect and opportunity to expand and build all our existing industry practices.”
Director for Workers’ Compensation of IFIS, Viviane Krief Woodcock says, “Joining RT will strengthen our regional brokerage capabilities, enhance our distribution and create a leading national workers’ compensation platform. Combining our service and proven expertise with RT’s unique business model will allow us to serve our clients and carrier partners better than ever before.”
*International Facilities Insurance Services
International Facilities Insurance Services (IFIS) consists of Regency Pacific Insurance Services, Inc., dba International Facilities Insurance Services (IFIS-North), located in San Francisco, California; and International Facilities Insurance Services (ISIS-South), located in Los Angeles, California. RT will be acquiring the assets and operations of IFIS North, and the stock, corporate entity and operations of IFIS South.
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