10 February 2023Analysis

Ryan Specialty creates new risk practice

Ryan Specialty has created a global transactional risk practice, Ryan Transactional Risk.

This global managing general underwriting practice is being formed by combining the operations of Concord Specialty Risks, which is headquartered in New York City, and Ryan Specialty Transactional Risks International, which is headquartered in London.

Ryan Transactional Risk will be led by four managing directors, each a longstanding executive of one of the existing managing general underwriters (MGUs):
• Representations & warranties and warranty & indemnity insurance will be led globally by James Montgomery, George Pearce and Rich Stansfield
• Specific litigation and contingent liability insurance management, innovation, and global expansion will be led by David S. De Berry
• Tax insurance will be coordinated by the managing directors, supported by regional leadership and expertise: Bill Kellogg (North America) and Kerry Westwell (Rest of World), with an emphasis on serving the needs of multinational enterprises

“The unification of these two exceptional MGUs will enhance both service and solutions to our global clients and carrier trading partners,” said Miles Wuller, president and chief executive of Ryan Specialty Underwriting Managers. “This new approach will continue to be supported by our growing network of expertise composed of roughly 55 teammates in this practice, served out of eight locations globally.”