Ryan Specialty acquires MGUs from Ethos Specialty

Ryan Specialty Holdings Inc. announced Tuesday the acquisition of property/casualty managing general underwriters owned by Ethos Specialty Insurance LLC from Ascot Group Ltd.

Terms of the transaction were not disclosed.

Ethos P&C is composed of eight program that underwrite on behalf of a diversified panel of insurers and generated roughly $11 million in operating revenue for the 12 months ended June 30, Chicago-based Ryan Specialty said.

Ethos P&C’s property division specializes in manufacturing, processing and warehousing, excess property, wind deductible buydowns and other perils buydowns. Its casualty division’s coverage includes New York contractors, construction wraps, real estate and CleanTech general liability.

Ethos P&C’s transactional liability MGU is not included in the deal.