International insurance company Ryan Specialty Group is set to acquire certain assets of alternative risk insurance specialist Keystone Risk Partners in a transaction that is expected to occur later this month.
Having launched its initial public offering in July of this year, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers.
The firm provides services ranging from distribution, underwriting, product development, administration and risk management services.
Keystone’s risk financing platform administers captive insurance and risk management solutions to middle-market insureds, with experience in captive consulting, captive management, underwriting, actuarial, banking, accounting, and reinsurance.
Commenting on the acquisition, Patrick Ryan, founder, chairman and CEO of Ryan Specialty, says: “Keystone brings new talent to Ryan Specialty allowing us to expand our offerings to our retail broker and agent trading partners facilitating access to alternative risk capital.”
“We are very excited to welcome the team of Keystone into the Ryan Specialty family and look forward to developing our alternative risk strategy together.”
Andrew Lewis, principal at Keystone Partners, adds: “Combining our talent in the disciplines of underwriting, actuarial, banking, accounting, reinsurance and captive insurance company formation and management with the Ryan Specialty platform will allow us to continue to evolve the creative, customised solutions we offer our agent and broker clients.”
