Ryan Direct Group (RDG) is continually evaluating strategic opportunities to acquire niche and specialist lines businesses according to its CEO Derek Coles, after the firm signed an agreement to buy managing general agent (MGA) Midas Underwriting.
The deal is expected to be completed in the first quarter of 2016 and is still subject to regulatory approval.
RDG, which is part of Chicago-based Ryan Specialty Group, said the acquisition of Midas complements its existing portfolio in property owners
- Tasker Insurance names Robert Organ as new CEO
- ASA reveals insurance advertising complaints
- Ex Towergate and Bluefin boss Kenny Hogg joins Gallagher as Scotland lead
- Staysure snaps up travel rival Avanti
- New motor fleet MGA launched
- GWP slips to $2.39bn at QBE Europe in half year results
- Hiscox adds drone cover and more to home insurance product