RSG acquires wholesale broker Oxford to expand energy practice

US-based Ryan Specialty Group (RSG) has reached a definitive agreement to acquire Houston, Texas-based wholesale broker Oxford Insurance Services.

Oxford specializes in energy, construction, environmental, and other complementary markets. It will become a part of RT Specialty, the wholesale brokerage unit of RSG.

Matt Galtney, president and CEO of Oxford, will become the president of RT Houston and will lead RT Specialty’s energy practice group.

RT Specialty chairman and CEO, Timothy Turner, said: "Oxford is an extraordinary boutique operation with deep expertise in the energy industry. Matt’s proven executive leadership and strong broking skills will have a significant impact on RT Specialty’s energy practice group and overall RT Houston business. We’re thrilled to have the Oxford team further strengthen our footprint in such a strategic market."

Matt Galtney, president and chief executive officer of Oxford, commented: "We look forward to continuing to grow and serve our clients under the RT Specialty banner. RT shares our commitment to a culture that builds strong business relationships through trust and a shared dedication to success. Our clients, insurance partners, and dedicated team are what makes our value proposition so compelling. We strongly believe in cultivating specialty knowledge and cementing industry partnerships to deliver the best solutions to meet our customer’s needs. We’re excited to join the RT Specialty team."

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Other stories from Tuesday's email newsletter

AXIS Capital hires new reinsurance CEO from Swiss Re

Qatar Re/Antares drive strong growth in Qatar Insurance Company

Lloyd’s revises its Harvey, Irma and Maria claims estimates

The Hartford buys Aetna’s $1.45bn benefits business

Ironshore names head of US claims

Insurdata raises over $1m in seed funding

HW Wood expands London team with Aon, Marsh and Howden hires

Don't miss our insurtech email newsletter - sign up today