Ryan Specialty, a publicly traded supplier of specialty merchandise for insurance coverage brokers, brokers and carriers, has agreed to purchase US Guarantee Insurance coverage Providers of Florida, an organization specializing in builder’s danger insurance coverage.
Primarily based in Jacksonville and based in 1977, US Guarantee distributes, underwrites and providers Zurich insurance coverage applications. US Guarantee operates throughout the nation and works with some 20,000 brokers, the businesses mentioned in a information launch. Ty Petway is CEO of the agency.
Zurich will proceed because the service for builder’s danger protection. Ryan Specialty, primarily based in Chicago, will maintain a mutually unique underwriting settlement with Zurich, the corporate mentioned. Producers can proceed to cite and situation insurance policies at usassure.com.
The sale is anticipated to shut within the third quarter this yr, Ryan Specialty mentioned.
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