Ryan Specialty Group has completed its previously announced acquisition of Westphalen Insurance Services Inc., an independently owned wholesale insurance brokerage located in Edmond, Oklahoma.
The Westphalen team now forms part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will establish the company’s presence in Oklahoma.
Founded in 1987, Westphalen is a family run business that focuses on property and casualty, personal lines and transportation business.
The brokerage is led by Jeff Westphalen and has binding authority commitments within each segment with ‘A’ rated XV carriers, which will continue with R-T Specialty.
Ryan Specialty Group and Westphalen did not disclose the terms of the transaction.
The completion of Westphalen deal follows a series of acquisitions made by Ryan Specialty Group last month, including the purchase of independent wholesale brokerages Boston Insurance Specialists and Myron F. Steves & Company, as well as independent managing general underwriter International Specialty Insurance Services Inc.