Ryan Specialty Group, LLC Acquires Concord Specialty Risk
February 10, 2011, CHICAGO, IL Ryan Specialty Group, LLC (RSG) today announced the acquisition of Concord Specialty Risk, a Managing General Underwriter and consultant that provides transactional risk insurance and loss mitigation-evaluation services that address the risk of loss arising from mergers and acquisitions, uncertain tax positions, potential regulatory enforcement and pending or potential litigation.
Concord Specialty was founded by brothers David S. De Berry, CEO, and Kenneth W. De Berry, President. Collectively, they have more than two decades of experience underwriting transactional risk insurance. Their legal, tax and accounting backgrounds equip them to provide prompt, creative and responsive solutions for equity funds, investment funds, tax directors, corporate growth managers, auditors, lawyers, investment bankers and insurance brokers and wholesalers.
David S. De Berry, CEO, says of the acquisition, "Concord Specialty serves to help the clients of our brokers strengthen bids, close transactions, facilitate syndications and offerings and obtain balance sheet protection. Combining with RSG will significantly enhance our capabilities to better serve our clients and trading partners. In addition, we believe that the star talent that RSG and RT Specialty, its wholesale brokerage unit has attracted, together with its strategic distribution network within the marketplace, will contribute greatly to our effort to reach a broader group of brokers whose clients can benefit from our products and services. They offer the cohesive structural support that facilitates our focusing on what we do best, providing creative insurance solutions for contingent liability to our clients."
RSG Chairman and CEO, Patrick G. Ryan, notes, "Concord Specialty Risk adds a distinct service to our specialty insurance operations, providing much needed contingent liability insurance to agents, brokers, and their clients as well as insurance carriers in the corporate and equity fund marketplace. Concord joins nine other individually unique RSG MGA/ MGU facilities, which are either operational or are in the process of becoming operational with excellent management teams in place. With RT Specialty's continuing rapid growth and expansion, staffed with industry veterans in nearly 20 office locations, our ability to bring these products and services to the marketplace will be further strengthened."
For more information on this release, contact Chelsey Krull, (312) 784-6043, firstname.lastname@example.org.
About Ryan Specialty Group, LLC (RSG)
Ryan Specialty Group, LLC is a global holding company for wholesale brokerage, MGU/MGAs and other specialty services to agents, brokers and insurance carriers. www.ryansg.com
About Concord Specialty Risk
Concord Specialty Risk is a managing general underwriter specializing in providing transactional risk insurance and loss mitigation-evaluation services that address the risk of loss arising from mergers and acquisitions, uncertain tax positions, potential regulatory enforcement and pending or potential litigation. www.concordspecialtyrisk.com. David S. De Berry, CEO, (212) 784-5678.
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Concord Specialty Risk is a series of RSG Underwriting Managers, LLC. RSG Underwriting Managers, LLC is a Delaware series limited liability company and a
subsidiary of Ryan Specialty Group, LLC, specializing in underwriting management and other services for insurance products distributed through agents and brokers.
In California: RSG Insurance Services, LLC License # 0E50879
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