Pat Ryan Profile
to avoid a lot of pitfalls. Everyone makes errors of judgement but if you are committed to a sense of fairness it certainly helps avoid many bigger problems.”
Ryan naturally wants to ensure these qualities are equally apparent in his
new organisation. He hopes to combine them with the culture of how he sees himself at heart: as an entrepreneur. His vision for RSG is one that combines the steady backdrop of corporate culture with the best creativity and ambition offered by the entrepreneurial spirit that he sees in himself and so admires in others. Yet perhaps they are not the stereotypical qualities many would associate with the word ‘entrepreneur’.
“To me, much like ice cream, entrepreneurs come in different flavours,”
he says. “There are many different types. There are those who start, build and sell businesses before doing it again. They are not for us. We believe in building for the long term and we want to attract entrepreneurs who feel the same way.
RSG TIMELINE
DECEMBER 2009 RSG forms ThinkRisk Underwriting Agency, which offers underwriting and claims management services.
MARCH 2010 RSG acquires Sowers Baccala Insurance Brokerage based in La Jolla, California, through its wholesale brokerage business R-T Specialty.
JULY 2010 R-T Specialty buys Chartwell Independent Insurance Brokers,
a national wholesale/intermediary organisation with expertise in tough-to-place property accounts.
OCTOBER 2010 R-T Specialty acquires McAuley Woods & Associates, a boutique wholesale insurance brokerage company based in Florida.
DECEMBER 2010 R-T Specialty acquires Oakbridge Insurance Services, a specialty insurance intermediary in Connecticut.
JANUARY 2011 RSG launches Technical Risk Underwriters, a specialty MGU focused
on providing best in class underwriting for complex construction and property risks based in Texas.
FEBRUARY 2011 RSG launches CivicRisk (CRU), an MGU specialising in excess casualty coverage for public entities.
FEBRUARY 2011 R-T Specialty enters into an agreement to purchase the wholesale
insurance business of American E&S Insurance Brokers (AES) from Wells Fargo Insurance Services.
“We have done that so far. We have bought some fantastic MGUs with
owners who have built very nice businesses from scratch, but who now want to continue to build that platform into something bigger and with more impact with the back-up of a larger company. They want to take their businesses to the next level.”
He believes such individuals will thrive within the culture of RSG. “Many are attracted to us because of our culture. We are about having high integrity, empowering people and ensuring people fulfil their potential and are rewarded for their creativity. That allows them to work on product development and deliver innovative solutions to clients. We want them to continue to be entrepreneurs in a culture that allows them to take risks. That is what entrepreneurs do. In turn, that mix of creativity and risk-taking will generate its own financial rewards.”
FEBRUARY 2011 RSG buys Concord Specialty Risk, an MGU and consultant that provides transactional risk insurance and loss mitigation-evaluation services.
MAY 2011 RSG enters into an agreement to acquire 100 percent of the share capital of specialist Lloyd’s insurer Jubilee Group Holdings.
MAY 2011 RSG agrees a trading partnership with Beazley Group, under which
Beazley will continue to offer insurance products to targeted long-term care facilities in the US through a programme underwritten by RSG Underwriting Managers, and trading under the name Sapphire Blue.
MAY 2011 RSG launches LifeScienceRisk, an MGU specialising in generic pharmaceuticals, medical devices and nutritional supplements.
JULY 2011 RSG launches PER se (Power.Energy.Risk, ‘securing the environment’),
an MGU specialising in the energy and power sector, with a primary focus on renewable energy risks.
SEPTEMBER 2011 RSG completes the acquisition of specialist Lloyd’s insurer Jubilee Group Holdings.
DECEMBER 2011 RSG subsidiary Concord Specialty Risk enters into new trading
relationships with Arch Specialty Insurance Company, Freedom Specialty Insurance Company, and a US subsidiary of Zurich Insurance Company.
JANUARY 2012 RSG acquires Global Special Risks, LLC (GSR), a specialty underwriting manager from Willis North America.
12 | INTELLIGENT INSURER | Spring 2012
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