Ryan Specialty Group acquires Navigators’ Nordic operations

Ryan Specialty Group (RSG) has acquired the Nordic operations of Navigators for an undisclosed amount, and the regional offices associated with the deal renamed RSG Sweden and RSG Denmark.

Navigators’ local workforce will continue their employment with RSG. Sverker Edstrom will remain responsible for Stockholm operations and Thomas Harrild for the Copenhagen office.

The sale excludes Navigators’ Nordic marine lines of business, which will continue to be managed out of Rotterdam.

Following the transaction, the new RSG offices will partner with Navigators to bring local customers management and professional liability products written on and backed by Navigators Lloyd’s Syndicate 1221 paper.

“This transaction supports Navigators’ strategic focus on serving clients across continental Europe,” said Michael Casella, Navigators’ president of international insurance.

“Our partnership with RSG will enable us to more efficiently serve clients in these markets while still providing them with the innovative products and financial strength Navigators is known for.”

Michael Rice, chairman of RSG Underwriting Managers, added: “Equally, this furthers RSG’s European expansion plans. We are very pleased to be able to further develop our strong relationship with Navigators with this transaction.”