RSG Announces Agreement to Acquire Boston Insurance Specialists, Inc.
CHICAGO, IL – Ryan Specialty Group, LLC, is pleased to announce that it has reached a definitive agreement to acquire the assets and operations of Boston Insurance Specialists, Inc. (BIS), an independently owned wholesale insurance brokerage with offices in Mansfield and Westfield, Massachusetts. BIS’ team will become part of R-T Specialty, LLC (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group (RSG), and will enhance RT Specialty’s New England presence.
Boston Insurance Specialists was founded in 2001 and is a family owned business led by the founders Debbie Murphy and Peggy Giancola. BIS represents and has binding authority with some of the top Excess & Surplus Lines carriers in the United States and London. Their specialty product solutions include Property, Casualty, Professional Liability and Personal Lines. BIS’ greatest strength lies in the quality and experience of their professionals and the ability to respond quickly to clients’ needs.
Commenting on this acquisition, Tim Turner, Chairman and CEO of RT Specialty, said, “I have known Debbie and Peggy for many years and have great respect for them and the firm they have built. Their knowledge and level of service is top among their peers. We’re thrilled to have them join the RT Specialty team.”
Debbie Murphy, President of Boston Insurance Specialists, remarked, “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.”
Terms of the transaction were not disclosed.