CHICAGO, IL – Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, is pleased to announce it has signed a definitive agreement to acquire certain assets of ACE Benefit Partners, Inc. (“ACE”), a medical stop loss general agent. ACE is headquartered in Eagle, Idaho and was founded in 2014.
Discussing their benefits strategy, Pat Ryan, Founder, Chairman & CEO of Ryan Specialty said, “The ACE team has proven to be true experts in the field of medical stop loss insurance, a foundational benefits solution with ever increasing relevance as employers seek the twin goals of flexibility and cost efficiency. We’re excited to partner with ACE to assist retail brokers and TPAs in crafting optimal insurance structures on behalf of their clients.”
John Zern, President & CEO of Ryan Specialty Benefits, commented, “ACE brings exceptional talent to Ryan Specialty Benefits. Jason, Terry and Angi each have decades of experience working with retail brokers on the intricacies of medical stop loss insurance. They have built a product set and capabilities that have attracted an outstanding roster of clients and markets. We look forward to working with ACE in establishing a nationwide presence in medical stop loss distribution.”
The principals of ACE, Jason Lankford, Terry Madge, and Angela Maggi, collectively commented, “We are completely aligned with Ryan Specialty’s mission to deliver innovative solutions to the retail broker community. By partnering with Ryan Specialty, we see a tremendous opportunity to expand the breadth and depth of our relationships with these key stakeholders. The culture of Ryan Specialty embraces empowerment, teamwork and integrity, all of which are core values of ACE. We are looking forward to being a part of this exceptional firm.”
Terms of the transaction were not disclosed. The acquisition is expected to close in July 2023.
Reagan Consulting served as exclusive financial advisor to ACE.
SOURCE: Ryan Specialty
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