Ryan Specialty announced the completion of two acquisitions aimed at expanding its underwriting capabilities.
Effective Aug. 30, Ryan Specialty finalized the acquisition of US Assure Insurance Services of Florida, Inc, a Jacksonville-based program specializing in builder’s risk insurance.
US Assure, established in 1977, is well-known in the small to middle market builder’s risk insurance segment, with a portfolio spanning the United States and relationships with more than 20,000 active agents.
Its underwriting operations are supported by a proprietary technology platform designed to streamline insurance brokers’ access and speed up the underwriting and policy issuance process. US Assure issues admitted market coverage on behalf of Zurich American Insurance Company, an AM Best A+ rated carrier.
Ty Petway, CEO of US Assure, said that choosing the right partner after 47 years of independence was crucial. He said that Ryan Specialty’s focus on underwriting and its employee and partner-centric culture aligned with US Assure’s values.
Joining the Ryan Specialty Underwriting Managers division (RSUM), Petway said, would enable US Assure to continue growing and expanding within the market.
Effective Sept. 1, the company also completed the acquisition of certain assets of Greenhill Underwriting Insurance Services, LLC from Alera Group, Inc.
Founded in 2014, Greenhill provides surplus lines coverage for small-to-mid-sized businesses in the healthcare sector, including home healthcare, physical therapy, and social service organizations. The acquisition includes Greenhill’s proprietary technology platform, Triton, which manages the entire policy lifecycle, from quoting to issuance.
Nancy McMahon, CEO of Sapphire Blue, Ryan Specialty’s healthcare managing general underwriter, welcomed the Greenhill team, saying that their expertise in allied healthcare would complement Sapphire Blue’s offerings.
She added that while Greenhill was not expected to contribute significantly to the company's financials in the short term, its strategic value was significant, particularly given Ryan Specialty’s relationship with MagMutual and RT Specialty’s healthcare insurance distribution network.
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