Chicago-based Ryan Specialty Group, having announced the purchase of independent wholesale insurance brokerage Boston Insurance Specialists (BIS) last week for an undisclosed fee, has completed the deal.
A family owned business started in 2001 and led by founders Debbie Murphy and Peggy Giancola, BIS’ specialty product solutions include Property, Casualty, Professional Liability and Personal Lines.
BIS’ team is now a part of R-T Specialty, LLC (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group (RSG).
“I have known Debbie and Peggy for many years and have great respect for them and the firm they have built,” Tim Turner, Chairman and Chief Executive Officer of RT Specialty said last week upon the initial announcement.
“Their knowledge and level of service is top among their peers. We’re thrilled to have them join the RT Specialty team.”
Murphy, President of BIS, added, “We are excited about joining RT Specialty. We view this evolution of our firm as a fantastic opportunity to maintain our local presence while expanding the products and services we offer to our retail broker clients.”
“Our entire BIS team will be joining RT Specialty, and we couldn’t be happier.”
