US-based Ryan Specialty Group (RSG) has concluded the previously announced acquisition of Boston Insurance Specialists (BIS) for an undisclosed sum.
Launched in 2001 and led by founders Debbie Murphy and Peggy Giancola, BIS offers specialty products including property, casualty, professional liability and personal lines.
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The acquired business trades as an independently owned wholesale insurance brokerage and has offices in Mansfield and Westfield, Massachusetts.
As per terms of the agreement, BIS’ team is now a part of R-T Specialty (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group (RSG).
RT Specialty chairman and CEO Tim Turner said: “I have known Debbie and Peggy for many years and have great respect for them and the firm they have built.
“Their knowledge and level of service is top among their peers. We’re thrilled to have them join the RT Specialty team.”
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By GlobalDataBoston Insurance Specialists president Debbie Murphy stated: “We are excited about joining RT Specialty.
“We view this evolution of our firm as a fantastic opportunity to maintain our local presence while expanding the products and services we offer to our retail broker clients. Our entire BIS team will be joining RT Specialty, and we couldn’t be happier.”
R-T Specialty, a subsidiary of Ryan Specialty Group, offers wholesale brokerage and other services to agents and brokers.
