Ryan Specialty acquires assets from Everest

Everest Group has announced that the Company has entered into a strategic agreement for international specialty insurance firm Ryan Specialty to acquire certain assets of Everest’s EverSports and Entertainment Insurance business, an MGU serving customers in the Sports, Leisure, and Entertainment market.

“This agreement builds on the long-standing trading partnership between Everest and Ryan Specialty and is well-aligned with the strategic objectives of both organizations,” said Jim Williamson, Everest Group chief operating officer. “As Everest continues to execute on our insurance business strategy, expanding our offerings and capabilities globally, we are focused on core areas where we have the deepest concentration of resources and provide the marketplace with the greatest value. Ryan Specialty, with its dedicated focus and investment in the Sports, Leisure, and Entertainment market, is positioned to maximize the EverSports and Entertainment portfolio, and its long-term potential.”

Everest said that it will continue to support the business and customers through the transition. The terms of the transaction have not been disclosed.

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