International specialty insurance firm, Ryan Specialty Group, has now completed its acquisition of certain assets of the Media, PA based insurance operation Keystone Risk Partners, LLC.
The acquisition was previously announced last month.
Keystone Risk Partners offers a range of alternative risk products and services, including captive consulting and management, as well as marketing or placement services, plus risk mitigation and analytics.
Keystone typically works with agents or brokers and their large commercial insurance clients, to help the client assume a portion of its own risk and gain greater control over long-term costs of insurance.
The company offers customised captive insurance and risk management solutions to middle-market insureds as well, especially where the traditional market falls short in its product offering.
Keystone’s operations generated around $8 million of revenue for the 12 months ended November 30th 2021.
Terms of the acquisition were not disclosed.
Patrick G. Ryan, Founder, Chairman and CEO of Ryan Specialty, commented that the acquisition would allow his firm to “expand our offerings to our retail broker and agent trading partners facilitating access to alternative risk capital.”
