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18 February 2019Insurance

Ryan Specialty snaps up US wholesale broker Myron Steves

Chicago-based Ryan Specialty Group (RSG) is acquiring the assets and operations of Texas-based Myron Steves & Company, an independently owned wholesale insurance brokerage.

Following the deal, Myron Steves team will become part of RT Specialty, the wholesale brokerage unit of RSG.

Myron Steves specialises in commercial property and casualty, professional liability, healthcare, transportation, and personal lines.

RSG said the acquisition will expand the company’s presence in Texas, both in strengthening RT’s presence in Dallas and Houston and in establishing offices in Austin and San Antonio.

Tim Turner, chairman and CEO of RT Specialty, said: “We are thrilled to have the professionals at Myron Steves join RT Specialty. Their expertise in commercial and personal lines, their state of the art technology, and the company’s deep and expansive relationships in Texas complement and further develop our business model. We’re looking forward to a great future together.”

Fred Steves, chairman of Myron F. Steves & Company, commented: “Joining forces with RT Specialty provides Myron Steves with a leading edge platform and vast network of professionals with whom we can continue to grow our business. Our company has been in business for over a half century, and we’re now ready to move to the next phase. RT Specialty couldn’t be a better fit for our professionals as our cultures align both strategically and in the way in which we value our clients and our employees. We are looking forward to joining the RT Specialty team.”

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