Ryan Specialty Group has reached a definitive agreement to acquire the Houston, Texas-based wholesale insurance brokerage Oxford Insurance Services.
Terms of the transaction were not disclosed.
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Following the acquisition, Oxford will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group. Oxford president and CEO Matt Galtney will become the president of RT Houston and will lead
RT Specialty’s Energy Practice group.
According to a release, Oxford is one of the largest wholesalers in the region, specializing in energy, construction, environmental, and other complementary markets.
“Oxford is an extraordinary boutique operation with deep expertise in the energy industry,” said RT Specialty Chairman and CEO Timothy W. Turner. “Matt’s proven executive leadership and strong broking skills will have a significant impact on RT Specialty’s energy practice group and overall RT Houston business. We’re thrilled to have the Oxford team further strengthen our footprint in such a strategic market.”
“We look forward to continuing to grow and serve our clients under the RT Specialty banner,” commented Galtney. “RT shares our commitment to a culture that builds strong business relationships through trust and a shared dedication to success. Our clients, insurance partners, and dedicated team are what makes our value proposition so compelling. We strongly believe in cultivating specialty knowledge and cementing industry partnerships to deliver the best solutions to meet our customers’ needs. We’re excited to join the RT Specialty team.”
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