Ryan Specialty Group (RSG) has entered an agreement to acquire the assets and operations of The Suitelife, a program manager based in West Chester, PA that specialises in hotels.
Founded in 2010, Suitelife offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities.
Its program management includes underwriting, design, administration and marketing, and is distributed through independent agents and brokers.
Suitelife also has exclusive underwriting authority with a number of highly-rated carriers, including Zurich and Allianz.
Following the acquisition, Suitelife will become part of RSG Underwriting Managers (RSGUM), the managing general underwriting unit of RSG.
“We are excited to have The Suitelife become a member of the RSGUM family,” said Michael D. Rice, Chairman and CEO of RSGUM.
“This business is a leader in their highly specialized market niche and, with its proven talent and leadership, will be an excellent complement to our other MGUs,” he continued.
“John Welty, Joe Dolce, Jim Shaffer and the rest of their underwriting team will further expand and enhance RSGUM’s offerings to our broker clients.”
John Welty, Suitelife Practice Leader, also commented: “We are thrilled for our team to become a part of Ryan Specialty Group and their underwriting organization, RSGUM.”
“The culture and support offered by RSGUM will expedite our efforts in our future growth initiatives, including the development of new programs and markets,” Welty added. “We’re very much looking forward to our future with RSG.”