Ryan Specialty Group, LLC Announces the Merger of the Assets and Operations of S.H. Smith & Company Inc. into R-T Specialty, LLC
September 16, 2013, CHICAGO, IL – Ryan Specialty Group, LLC (RSG) today announced that it has reached agreement to merge S.H. Smith & Company, Inc. (SHS) into R-T Specialty, LLC. S.H. Smith & Company, Inc. is one of the largest privately-owned specialty brokerages in the country. Headquartered in Hartford, CT, the company is licensed in 50 states and works through a network of over 2,000 independent retail agents. Formed by Scott Smith in 1982, the company employs more than 90 team members and manages its business across four segments: Professional & Management Liability; Commercial Property & Casualty; In-House Underwriting; and Program Business.
Patrick G. Ryan, Chairman & CEO of RSG, says, “Scott Smith, the President of S.H. Smith & Company, Inc., is highly respected by the brokerage and carrier community. His existing operations and experience will become a basis for expanding RT’s presence in the Northeast, as well as our binding authority capabilities. We are excited Scott is joining RT’s senior leadership team.”
RT President & CEO, Timothy W. Turner adds, “Scott Smith has built a first-class organization and we are proud to add him to our senior management team. We are equally proud of the talented brokers and support personnel at S.H. Smith & Company, Inc. that will help RT grow and continue to provide best in class service to our customers and carriers.”
S.H. Smith & Company, Inc. President Scott Smith says, “Combining our specialty services with RT’s strong, national distribution model is a win-win for clients everywhere. We are excited about the opportunity to join our team with the fastest growing wholesale brokerage in the country.” http://wwwshsmith.com
Terms of the transaction were not disclosed.
About Ryan Specialty Group, LLC and R-T Specialty, LLC
Ryan Specialty Group, LLC is a global holding company which includes wholesale broker R-T Specialty, LLC, 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 and www.rtspecialty.com