International specialty insurance firm Ryan Specialty has completed the acquisitions of Socius Insurance Services, Point6 Healthcare, and ACE Benefit Partners, Inc.
In early June, Ryan Specialty signed definitive agreements to acquire certain assets of ACE, a medical stop loss general agent, and Point6, a distributor of medical stop loss insurance, pharmacy solutions, and complex claims management on behalf of retail brokers and third party administrators.
At the time, Pat Ryan, Founder, Chairman & CEO of Ryan Specialty commented, “The ACE team has proven to be true experts in the field of medical stop loss insurance, a foundational benefits solution with ever-increasing relevance as employers seek the twin goals of flexibility and cost efficiency.
“We’re excited to partner with ACE to assist retail brokers and TPAs in crafting optimal insurance structures on behalf of their clients.”
Ryan went on, “Point6 and their talented team will provide foundational benefits capabilities to Ryan Specialty
“With this cornerstone competence and expertise, Ryan Specialty will make it possible for retail brokers and third party administrators to access leading healthcare solutions on behalf of their clients.”
Meanwhile, in May, the firm announced that it had also signed a definitive agreement to acquire Socius Insurance Services, a national wholesale insurance broker headquartered in Northern California, from Abry Partners, employees and other shareholders.
Now that this acquisition is complete, Socius will become a part of RT Specialty, Ryan Specialty’s wholesale distribution specialty.
At the time of the announced acquisition, Tim Turner, President of Ryan Specialty and Chairman and CEO of RT Specialty, said, “We are thrilled to have the high-quality Socius team join Ryan Specialty.
“We have known them for many years and admire their professional approach to the business, technical acumen, and phenomenal execution.
“We look forward to embracing these talented individuals and providing even more opportunities to them as they become a part of the RT Specialty platform.”
