Ryan Specialty Group Announces Agreement to Acquire Atlantic Specialty Lines, Inc.
CHICAGO, IL — Ryan Specialty Group, LLC, is pleased to announce that it has reached an agreement to acquire the assets and operations of Atlantic Specialty Lines, Inc. (ASL), a privately owned wholesale insurance brokerage. ASL is headquartered in Richmond, VA and has additional locations in Illinois, Florida, Louisiana, New York, Pennsylvania and Texas. The ASL team will become part of R-T Specialty, LLC (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group, and will expand RT Specialty’s footprint in the Mid-Atlantic and Southeast regions. Additionally, it will be a major factor in the national expansion of the RT Binding Authority strategy.
Atlantic Specialty Lines was founded in 1996 and has serviced a strong, long-tenured network of retail broker and agent clients throughout the Southeast and Mid-Atlantic. ASL is known for its ability to offer customized service, specialty expertise, and access to high quality carrier markets with extraordinary responsiveness. Lines of business in which the wholesaler focuses includes general liability, commercial property, commercial package, professional liability, and personal lines.
Remarking on this acquisition, Tim Turner, Chairman and CEO of RT Specialty, said, “We are thrilled to have the ASL team become a part of RT Specialty. Their level of service and expertise is exceptional. ASL is the perfect player to expand in the Mid-Atlantic and Southeast. We couldn’t be more pleased.”
Seth Johnson, Chief Operating Officer of Atlantic Specialty Lines, enthused, “We are excited to be joining forces with RT Specialty and collaborating with like-minded professionals. The opportunities for both ASL and RT are huge. Our cultures are very similar with a high passion for the business and the unbending goal to win and provide the best solution and service for our clients. We are very much looking forward to our future with RT Specialty.”
Terms of the transaction were not disclosed.