Ryan Specialty Agrees to Buy Certain Assets of Ardonagh’s Geo Underwriting Europe

Ryan Specialty, the Chicago-based planetary specialty security firm, announced it has signed a definitive statement to get definite assets of the European managing wide cause Geo Underwriting Europe BV (Geo Europe), portion of London-based Ardonagh Group.

Terms of the transaction were not disclosed.

(In a abstracted deal, Ryan announced signed a definitive statement to get the spot and casualty MGUs owned by Ethos Specialty Insurance, portion of Ascot Group. See related article).

Geo Europe is based successful Rotterdam, Netherlands, with operations successful Germany, and specializes successful fiscal lines. Geo Europe volition articulation the Ryan Financial Lines (RFL) portion wrong the Ryan Specialty Underwriting Managers part of Ryan Specialty, complementing RFL’s European enlargement objectives. The acquisition is expected to adjacent during the 3rd 4th of this year.

Geo Europe’s halfway portfolio chiefly comprises specialized mid-sized companies and planetary ample corporates crossed the European Union written by underwriters with acquisition successful nonrecreational indemnity, absorption liability and cyber.

Walter Craft volition beryllium appointed arsenic managing manager of Ryan Financial Lines – Benelux and DACH, and volition articulation the Ryan Financial Lines Executive Committee.

“Ryan Specialty is the close level for Geo Europe to further fortify its offerings and to let our squad members to truly excel. Ryan Specialty Underwriting Managers’ analytical underwriting enactment and administrative and organisation capabilities align nicely for the adjacent measurement successful our journey, arsenic we proceed to absorption connected providing the champion solutions and work to our clients,” commented Walter Craft, managing manager and main underwriting serviceman for Geo Europe.

“We are grateful to The Ardonagh Group who person supported the motorboat of Geo Europe successful 2019 and are precise excited astir this adjacent measurement successful joining Ryan Financial lines and the wider Ryan Specialty family,” Craft added.

Topics Mergers & Acquisitions Excess Surplus Europe Underwriting