Ryan Specialty Holdings has completed its acquisition of J.M. Wilson Corp., a Michigan-based specialist managing general agent offering personal lines, surety, and transportation products.
The terms of the transaction were not disclosed. Ryan Specialty announced the acquisition on June 5 and indicated it was expected to close in the third quarter.
J.M. Wilson’s business will be integrated into RT Binding Authority, a division of Ryan Specialty that focuses on excess and surplus (E&S) coverage for small- and medium-sized accounts.
Ed McCormack, CEO of RT Specialty, stated that the acquisition strengthens RT Specialty’s Midwest binding authority presence and enhances its transportation practice.
This team fills a critical need for RT Specialty, giving us a more robust Midwest binding authority presence and strengthening our transportation practice
Ed McCormack, chief executive officer of RT Specialty
Patrick G. Ryan, founder and executive chairman of Ryan Specialty Holdings, previously noted that the company sees strong opportunities for mergers and acquisitions as it continues to grow in the specialty E&S market.
He pointed out that global trade uncertainty, inflation, and volatility in capital markets have increased risks in the near and medium term, making specialty solutions more relevant in the current economic environment.
- Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers.
- RT Binding Authority is one of the largest binding authority platforms in the nation and an industry leader providing insurance agents and brokers with specialty coverage solutions. RT Binding underwriting professionals deliver swift, expert E&S coverage for small- and mid-sized accounts.
