Ryan Specialty Group acquires US programme manager Suitelife

US specialty insurance services business Ryan Specialty Group (RSG) is acquiring the assets and operations of Pennsylvania-based programme manager The Suitelife.

Suitelife specialises in boutique hotels, premier and full service hotels, hotel management companies, condo hotels, and resorts from Venture Insurance Programs. It offers package, liability, property, umbrella, auto and workers’ compensation coverages to hotels, resort properties and private resort communities.

Suitelife has exclusive underwriting authority with several insurance carriers including Zurich, Allianz and others.

The company will become part of RSG Underwriting Managers (RSGUM), the managing general underwriting unit of Ryan Specialty Group.

Michael Rice, chairman and CEO of RSGUM, said: “We are excited to have The Suitelife become a member of the RSGUM family. This business is a leader in their highly specialized market niche and, with its proven talent and leadership, will be an excellent complement to our other MGUs. John Welty, Joe Dolce, Jim Shaffer and the rest of their underwriting team will further expand and enhance RSGUM’s offerings to our broker clients.”

John Welty, Suitelife practice leader, added: “We are thrilled for our team to become a part of Ryan Specialty Group and their underwriting organisation, RSGUM. The culture and support offered by RSGUM will expedite our efforts in our future growth initiatives, including the development of new programs and markets. We’re very much looking forward to our future with RSG.”

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