International specialty insurer Ryan Specialty Group has reached an agreement to purchase the assets and operations of Myron F. Steves & Company, a Houston-based independent wholesale insurance brokerage.
This deal will see the Myron Steves team integrated into RT Specialty, a wholesale broker unit of Ryan Specialty, expanding the firm’s presence in Texas by establishing new offices in Austin and San Antonio.
Tim Turner, Chairman and Chief Executive Officer of RT Specialty, believes that Myron Steves’ commercial property and casualty expertise, state of the art technology and deep relationships in the region will further develop the company’s business model
“We’re looking forward to a great future together,” added Turner.
Founded in 1955, Myron Steves is known for its advanced technology, service to retail clients and ease of doing business.
Fred Steves, Chairman of Myron F. Steves & Company, commented, “Joining forces with RT Specialty provides Myron Steves with a leading edge platform and vast network of professionals with whom we can continue to grow our business.”
“Our company has been in business for over a half century, and we’re now ready to move to the next phase. RT Specialty couldn’t be a better fit for our professionals as our cultures align both strategically and in the way in which we value our clients and our employees. We are looking forward to joining the RT Specialty team.”
