RSG Underwriting Managers (RSGUM) has acquired a Pennsylvania-based transportation MGA, the firm announced yesterday.
The deal, which closed on Wednesday, saw RSGUM take over the assets and operations of Interstate Insurance Management.
Interstate, which underwrites specialty property and P&C binding facilities, as well as its core transportation coverages, serves the mid-Atlantic region from its headquarters in Johnstown, PA.
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The MGA will continue to be led by Jack Buchan, who has been at the helm of the company for the last 26 years, the release said.
RSGUM, part of the Ryan Speciality Group, first announced the deal on January 26.
Earlier this month,
Ryan Specialty Group announced the acquisition of the insurance agency operations of The Navigators Group in Sweden and Denmark.
Terms of the latest deal were not disclosed.
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