Ryan Specialty Group (RSG) is to buy certain assets of ARC Specialty Brokerage, the property/casualty (P&C) division of wholesale insurance broker ARC Excess & Surplus. Terms of the transaction were not disclosed.
ARC Specialty’s Mike Vollaro, a wholesale brokerage professional and specialist in New York construction, will join RT Specialty, the wholesale brokerage unit of RSG, in RT Specialty’s Long Island office in Melville, NY.
Other current producers of ARC Specialty and their respective assistants are also set to move into RT Specialty’s Long Island office.
“The expertise of Mike and his team will complement and strengthen RT’s prominent position in New York and specifically NY Construction,” commented Tim Turner, RT Specialty Chairman and Chief Executive Officer.
“We are excited to have the professionals from ARC Specialty join our team.”
ARC Specialty will continue to operate in the wholesale space along with its MGU, Professionals Risk Facilities, Inc.
