Ryan Specialty acquires US specialty intermediary

Ryan Specialty Group (RSG) has reached a definitive agreement to acquire the assets and operations of New Jersey-based specialty intermediary New Day Underwriting Managers.

Following the deal, New Day will become part of RSG's wholesale brokerage unit RT Specialty. Founded in 2005 by Jefferey Lejfer, New Day is a specialist in environmental liability and construction-related professional liability insurance.

RT Specialty chairman and CEO, Timothy Turner, said: “We are thrilled to have the New Day team join RT Specialty. Their expertise and dedication to their retailers is exemplary, and the addition of New Day will further strengthen our offerings in environmental, construction and real estate. Jeff Lejfer is a proven leader who has built a company based not only on technical expertise, but on respect for both clients and employees. We are confident that the New Day culture is a perfect fit with the culture of RT.”

Lejfer, CPCU and CEO, who will continue to lead the New Day team as it folds into RT Specialty, commented: “It is the perfect time at New Day to join forces with the powerhouse of RT Specialty. Our national footprint will blend well with RT’s extensive network, and our expertise will further complement RT’s robust expertise in the construction and real estate industries.”

Jeff Slivka, ARM, CRIS, president of New Day Underwriting Managers, who will lead the environmental and construction professional liability practice group, added: “This is a great opportunity for New Day to maintain its focus on environmental and construction-related professional liability and to leverage the resources of a larger organization. All of us here are excited to move forward with RT Specialty.”

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