International specialty insurance firm Ryan Specialty has agreed to acquire certain assets from Greenhill Underwriting Insurance Services.
Greenhill is a technology-enabled managing general underwriter focused on the allied health industry.
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At Ryan Specialty, the Greenhill team will be part of Sapphire Blue, the healthcare managing general underwriter arm of Ryan Specialty.
Founded in 2014, Greenwill underwrites coverages in the surplus lines market for allied healthcare, such as home healthcare and physical therapy, and social service organisations.
Nancy McMahon, CEO of Sapphire Blue, said: “We are very excited to welcome the Greenhill underwriting team to Sapphire Blue. Greenhill’s reputation for client service and allied healthcare expertise will allow us to expand our specialty healthcare offerings. The Greenhill acquisition presents a compelling growth opportunity, particularly given our recently announced exclusive relationship with MagMutual and RT Specialty’s strength in healthcare insurance distribution. While Greenhill is not immediately expected to make an outsized financial contribution to Sapphire Blue, the strategic value is immense as it gives us a market presence in mission-critical sub-verticals.”
Ashley Stewart, Greenhill’s underwriting manager, stated: “The Greenhill team is thrilled to join Sapphire Blue. Since our founding, Greenhill has focused on developing innovative products, bringing those products to market quickly, and generating sustainable underwriting profits for our carrier trading partners. Ryan Specialty’s platform and Sapphire Blue’s expertise will accelerate our strategic growth and complement our offerings. We look forward to expanding our success as a part of the Ryan Specialty family.”
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By GlobalDataTerms of the transaction were not disclosed.
In August 2024, Ryan Specialty entered into a definitive agreement to acquire US Assure Insurance Services of Florida (US Assure).
Financial terms and additional details of the transaction have not been revealed.
This move is anticipated to strengthen Ryan Specialty’s presence in the builder’s risk insurance market.
