Ryan Specialty Group, an international specialty insurance organization that offers solutions for brokers, agents and insurance carriers, has agreed to acquire wholesale insurance brokerage Kerwick & Curran (K&C).
K&C was incorporated in 1975 by John (Jack) Kerwick and Frank Curran as reinsurance intermediaries and wholesale brokers.
The company, which has offices in Tarrytown and Melville, New York, was one of the Northeast’s first wholesale brokerage operations, focusing primarily on National Account real estate, high hazard manufacturing, industrial, retail and construction risks.
Apart from its broker clientele, Kerwick and Curran developed a portfolio of facultative reinsurance clients.
K&C's clients range from local and regional to national brokers.
Financial details of the transaction have not been disclosed.
Following the transaction, K&C will become part of RSG's wholesale brokerage unit RT Specialty.
K&C CEO and managing partner Ed Berliner and president Joe Davis will continue to oversee the operation after the merger.
RT Specialty chairman and CEO Timothy Turner said: “K&C is an outstanding wholesale broker that will integrate well into RT Specialty with their high integrity and exceptional level of performance.
“Their specialty of habitational risks is unsurpassed and will further strengthen and deepen our solid Northeast presence. We have known Ed Berliner and Joe Davis for a long time and are thrilled that they and their team will be joining RT Specialty.”
Berliner and Davis, jointly, said: “This merger will enable us to fuel our ambitions of growth and widen our reach. We look forward to many years of continued success ahead as a part of RT Specialty.”
Image: Ryan Specialty Group announces agreement to acquire Kerwick & Curran. Photo: Courtesy of adamr/FreeDigitalPhotos.net.