US-based insurance agency network ISU Group, which was acquired last year by Australia-headquartered general insurance broking network and underwriting agency group Steadfast Group, has promoted chief operating officer Dan McCarthy to chief executive.
The promotion will see McCarthy succeed T.J. Ryan III, who has been at the helm of ISU for three and a half decades and will be taking on the newly created role of vice chairman. Samantha Hollman, international CEO at Steadfast, said the goal is to have a smooth leadership transition at the major US agency network.
“Dan’s appointment is a natural progression for the future of ISU and part of a carefully developed succession plan to ensure continuity and confidence in the business,” Hollman noted. “Dan has established himself as an effective executive and a visionary leader, with over 30 years of experience in finance, underwriting, claims management, and sales.
“As COO over the past 10 years, Dan has developed a deep understanding of ISU’s business and its role in the insurance distribution system and has been instrumental to the growth and development of the network over that time.”
Commenting on his next role, McCarthy stated: “It’s an honor to be asked to lead ISU. T.J. has been a valued leader of ISU, and it has been a pleasure to have him as a trusted mentor and colleague.
“ISU has incredibly talented and passionate people who embrace a culture of innovation and collaboration, which at its heart will ensure we continue to deliver meaningful value for our network members and their clients.”
Meanwhile, as vice chair, Ryan will be focused on strategic projects and opportunities, leveraging his extensive industry relationships.
Reflecting on his tenure, the long-time leader said: “Serving as ISU’s CEO for nearly 35 years has truly been a privilege, and I am incredibly proud of our accomplishments to date. Since ISU was formed, we have experienced tremendous growth driven by our network members and outstanding team. I am confident ISU will continue to excel under Dan’s leadership.”
Initially starting as a franchise over 40 years ago, ISU now has 230 members across 40-plus states and partnerships with more than 75 insurance carriers and wholesalers.
Hollman added: “T.J. is very passionate about ISU’s future growth and is excited about the opportunity to continue to support ISU in this new role. With Dan at the helm and Steadfast’s full support, ISU is on a solid footing, and it will be exciting to see him lead the organization through the next phase of its growth journey.”
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