Ryan Specialty Group (RSG) has reached an agreement to purchase the assets and operations of wholesale insurance brokerage, Atlantic Specialty Lines, Inc. (ASL), expanding the firm’s specialty footprint in the Mid-Atlantic and Southeast regions.
ASL is headquartered in Richmond, Virginia, and has additional offices in Illinois, Florida, Louisiana, New York, Pennsylvania, and Texas. Once the deal has completed, the ASL team will become part of RSG’s wholesale brokerage unit, RT Specialty, expanding the company’s footprint.
Furthermore, RSG says that the acquisition will be an important factor in the national expansion of the RT Binding Authority strategy.
Founded in 1996, ASL focuses on various lines of business, including general liability, commercial property, commercial package, professional liability, and personal lines.
RT Specialty Chairman and Chief Executive Officer (CEO), Tim Turner, said: “We are thrilled to have the ASL team become a part of RT Specialty. Their level of service and expertise is exceptional. ASL is the perfect player to expand in the Mid-Atlantic and Southeast. We couldn’t be more pleased.”
Seth Johnson, Chief Operating Officer (COO) of ASL, added: “We are excited to be joining forces with RT Specialty and collaborating with like-minded professionals. The opportunities for both ASL and RT are huge.
“Our cultures are very similar with a high passion for the business and the unbending goal to win and provide the best solution and service for our clients. We are very much looking forward to our future with RT Specialty.”