Ryan Specialty completes Ethos Specialty’s P&C MGUs acquisition from Ascot

Specialty insurance firm Ryan Specialty has completed the acquisition of Ethos Specialty Insurance’s P&C managing general underwriters (MGUs) From Ascot Group Limited.

Ryan Specialty had signed a definitive agreement to acquire these MGUs back in September.

Upon completion of the acquisition, Ethos P&C, established in 2017 by Ascot Group, will be incorporated into Ryan Specialty Underwriting Managers (RSUM), a division of Ryan Specialty.

It’s important to note that Ethos’ Transactional Liability MGU is not included in the transaction and will remain with Ascot.

Ethos P&C offers eight underwriting programs on behalf of a diversified group of insurance carriers. Within its property division, the firm’s expertise includes manufacturing, processing and warehousing, excess property, wind deductible buydowns, and all other peril buydowns.

Additionally, Ethos P&C’s casualty coverages include New York contractors, construction wraps, real estate and CleanTech general liability.

Patrick G. Ryan, Founder, Chairman & CEO of Ryan Specialty, had previously commented: “Ethos P&C has established itself as an underwriting manager offering innovation and excellent service in niche specialty lines.

“Their entrepreneurial spirit and complementary portfolio add depth and breadth to Ryan Specialty. We welcome this team of highly experienced underwriters and look forward to our future together.”

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