RSG acquires US transportation MGA Interstate
Ryan Specialty Group (RSG) has acquired transportation managing general (MGA) agent Interstate Insurance Management in the US.
Following the complete acquisition of the assets and operations, Interstate will become part of RSG Underwriting Managers (RSGUM).
Headquartered in Pennsylvania, Interstate serves the greater mid-Atlantic region and has underwriting authority with multiple transportation markets. The firm, led by president and CEO Jack Buchan, also underwrites specialty property/casualty coverages.
Miles Wuller, chief operating officer of RSG Underwriting Managers, commented: "We are extremely pleased about Jack Buchan and his team choosing to join RSGUM. Since its inception RSGUM has remained vigilant, only entering new verticals when a clear expertise or unique market position can be achieved.
"Interstate’s leadership, approach, and decades of successful underwriting results exemplify RSGUM’s commitment to entering the transportation segment only with the right partner.”
Jack Buchan, president and CEO of Interstate, said: "RSGUM is the perfect match for us. We are excited to be partnering with such an entrepreneurial, underwriting focused organization that will help us expand our geographic presence and product set while also giving our employees a continued path for growth and opportunity.
"RSGUM’s structural support will bring the incremental resources to support and accelerate our mission: providing the best products and services to our retail producers, while achieving superior underwriting results for our insurance carrier partners."
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