Ryan Specialty Group to buy US wholesale broker Atlantic Specialty Lines

Chicago-based Ryan Specialty Group (RSG) is to acquire the assets and operations of Atlantic Specialty Lines (ASL), a privately owned wholesale insurance brokerage headquartered in Richmond, Virginia.

ASL focuses on general liability, commercial property, commercial package, professional liability, and personal lines. The company services a network of retail broker and agent clients throughout the Southeast and Mid-Atlantic from its offices in Richmond, Illinois, Florida, Louisiana, New York, Pennsylvania and Texas.

Following the deal, ASL's team will become part of RT Specialty, the wholesale brokerage unit of Ryan Specialty Group, and will its footprint in the Mid-Atlantic and Southeast regions. RSG said it will be a major factor in the national expansion of the RT Binding Authority strategy.

Tim Turner, chairman and CEO of RT Specialty, said: “We are thrilled to have the ASL team become a part of RT Specialty. Their level of service and expertise is exceptional. ASL is the perfect player to expand in the Mid-Atlantic and Southeast. We couldn’t be more pleased.”

Seth Johnson, chief operating officer of ASL, added: “We are excited to be joining forces with RT Specialty and collaborating with like-minded professionals. The opportunities for both ASL and RT are huge. Our cultures are very similar with a high passion for the business and the unbending goal to win and provide the best solution and service for our clients. We are very much looking forward to our future with RT Specialty.”