RT Specialty acquires life science insurer

RT Specialty, the wholesale brokerage unit of Ryan Specialty Group, has acquired the assets of life science insurer AJ Renner & Associates.

The core of the life science team of AJ Renner will be joining RT Specialty following the close of the transaction.

Founded in 1985, AJ Renner is an excess and surplus lines broker specialising in insurance products for life science, pharmaceuticals, nutraceuticals, clinical trials, medical devices, healthcare and long-term care.

Timothy Turner, president and chief executive officer (CEO) of RT Specialty, said: “This transaction advances our strategy in the life science field in a meaningful way and represents RT Specialty’s continued commitment to providing cutting- edge risk management solutions to our life science clients.”

Alison Renner, CEO of AJ Renner, added: “We are excited to join the dynamic group at RT Specialty that Pat Ryan and Tim Turner have built over the past few years. The strong platforms at RT Specialty give us unique opportunities to expand the solutions that are available to life sciences clients.”