Ryan Specialty has completed the acquisition of P&C managing general underwriters (MGUs) owned by Ethos Specialty Insurance from Ascot Group.
Ethos P&C, founded in 2017 by Ascot Group, will become a part of the Ryan Specialty Underwriting Managers division.
It comprises eight programmes that underwrite on behalf of a diversified panel of insurance carriers. In the property division, the firm specialises in manufacturing, processing, and warehousing, excess property, wind deductible buydowns, and all other perils buydowns, while the casualty coverages include New York contractors, construction wraps, real estate and CleanTech general liability.
Patrick Ryan, founder, chairman and CEO of Ryan Specialty, says: “Ethos P&C has established itself as an underwriting manager offering innovation and excellent service in niche specialty lines.
“Their entrepreneurial spirit and complementary portfolio add depth and breadth to Ryan Specialty. We welcome this team of highly experienced underwriters and look forward to our future together.”
