Ryan Specialty Group, LLC, is pleased to announce that it has reached a definitive agreement to acquire the assets and operations of Myron F. Steves & Company (Myron Steves), an independently owned wholesale insurance brokerage headquartered in Houston, Texas, with additional offices in Austin, Dallas and San Antonio.
The Myron Steves team will become part of R-T Specialty, LLC (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group, and will expand the company’s presence in Texas, both in strengthening RT’s presence in Dallas and Houston and in establishing offices in Austin and San Antonio.
Founded in 1955, Myron Steves has a long and rich history of serving independent insurance agents in Texas and the Southwest. Specialties and areas of expertise include commercial property and casualty, professional liability, healthcare, transportation, and personal lines. In addition to its numerous binding authority contracts, Myron Steves is known for its advanced technology, service to retail clients and ease of doing business.
Tim Turner, Chairman and CEO of RT Specialty, remarked, “We are thrilled to have the professionals at Myron Steves join RT Specialty. Their expertise in commercial and personal lines, their state of the art technology, and the company’s deep and expansive relationships in Texas complement and further develop our business model. We’re looking forward to a great future together.”
Fred Steves, Chairman of Myron F. Steves & Company, commented, “Joining forces with RT Specialty provides Myron Steves with a leading edge platform and vast network of professionals with whom we can continue to grow our business. Our company has been in business for over a half century, and we’re now ready to move to the next phase. RT Specialty couldn’t be a better fit for our professionals as our cultures align both strategically and in the way in which we value our clients and our employees. We are looking forward to joining the RT Specialty team.”
Terms of the transaction were not disclosed.
Source: Company Press Release