Ryan Specialty Group (RSG) has agreed to acquire the assets and operations of New Day Underwriting Managers, a specialty intermediary with offices in Hamilton, New Jersey.
Ryan Specialty Group (RSG) is pleased to announce that it has reached a definitive agreement to acquire the assets and operations of New Day Underwriting Managers (New Day), a specialty intermediary with offices in Hamilton, New Jersey. New Day will become part of R-T Specialty (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group (RSG).
New Day was founded in 2005 by Jefferey S. Lejfer, CPCU and the CEO, and is a specialist in environmental liability and construction-related professional liability insurance. With a national presence, New Day approaches relationships with its retail brokerage clients holistically and extends its service far beyond placing coverage. New Day is an advocate, consultant and advisor to its retail broker partners. Jefferey Lejfer will continue leading the New Day team as it combines into RT Specialty.
RT Specialty chairman and CEO Timothy W. 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.”
New Day Underwriting Managers founder, CEO Jefferey S. Lejfer CPCU said: “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.”
New Day Underwriting Managers president Jeff Slivka, ARM, CRIS, who will lead the environmental and construction professional liability practice group, said: “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.”
Terms of the transaction were not disclosed.