Former RSA executive will help lead growth at the service provider
Former RSA group executive director Paul Donaldson will join insurance services provider Ryan Direct Group (RDG) as a non-executive director.
Donaldson will join in September, subject to regulatory approval, and will assist the group in its acquisition and growth strategy.
RDG chief executive Derek Coles said: “We are delighted to have secured such an experienced insurance figure for our business. Paul’s relationship-management skills are second to none and his counsel will prove enormously valuable as we further grow our presence in the UK, particularly in the London Market, but also in the wider insurance industry where Paul is hugely respected.
RDG is the UK-facing business of US-based Ryan Specialty Group (RSG). It is also the holding company of broker Direct Group, which is aiming for 20% growth by the end of 2014.
Coles said: “We have always been clear that we are interested in acquisitions that add a strategic and long-term value to our overall product and service offering and/or growth initiatives (new products or teams) that build the strength of RSG.”
Donaldson said: “Pat Ryan (chairman and chief executive of RSG) painted a compelling picture of the scale of ambition and opportunity for RDG, and I’m very much looking forward to playing a full part in helping the team meet their long-term objectives.
“RDG in the UK is extremely well-placed to service risk carriers who want to grow but not do everything themselves. Moreover, customers increasingly wish to be treated as individuals; they have different types of requirements and use different channels of delivery. Customer segmentation will be a key market development, and niche and specialist providers like RDG, who really know their market, will be in more demand.”