Ryan Specialty Group (RSG) has agreed to acquire Irwin Siegel Agency (ISA) for an undisclosed amount.
ISA is a human and social service managing general underwriter, based in Rock Hill, New York.
The companyhas been a family-owned business offering property and casualty insurance products and risk management solutions for about 60 years.
It specializes in developmental disability organizations, addiction treatment and behavioral / mental healthcare, youth programs, and more.
The operations of ISA will become part of RSG Underwriting Managers (RSGUM), the managing general underwriting division of RSG.
RSG chairman and CEO Pat Ryan said: “We are delighted to have the Irwin Siegel Agency join the RSG family. The work that Howard and his team do is indeed impressive and truly an added value to our society.
“The values and goals of ISA align perfectly with ours, and we’re looking forward to working with and expanding the reach of this great team.”
ISA claims to have developed the first property and casualty insurance package specifically designed for non-profit organizations that serves individuals with disabilities back in 1985. The company is led by Howard Siegel and he has been with the company for up to 40 years.
After the acquisition, Siegel will continue as the CEO. He said: “It is time for ISA to join forces with an industry leader that values our clientele and business as much as we do. We have found that partner in Ryan Specialty Group and Pat Ryan.”
In early January, RSG entered into an agreement to acquire Kerwick & Curran, which is a wholesale insurance brokerage which has offices in Tarrytown and Melville, New York.
After the acquisition, the firm is set to become part of R-T Specialty (RT Specialty), the wholesale brokerage unit of Ryan Specialty Group (RSG), and will strengthen the company’s presence in New York.
Image: Ryan Specialty Group to acquire Irwin Siegel Agency. Photo: Courtesy of adamr/FreeDigitalPhotos.net.