Direct Group to retain brand following acquisition

Pat Ryan

Ryan Specialty Group (RSG) has completed its acquisition of Direct Group for an undisclosed sum.

Direct Group will retain its brand under the terms of the deal, and chief executive Derek Coles will stay on as well as taking on a new role on the RSG European board.

RSG, which is the parent company of Lloyd’s insurer Jubilee and the brainchild of former Aon founder Pat Ryan, announced the deal in September.

RSG said at the time that the deal would “significantly strengthen its MGA and third party administration (TPA) capabilities in the UK”.

Doncaster-based Direct Group has been a partner to Jubilee for a number of years. 

Direct Group provides a range of MGA and TPA services across the insurance industry and provides solutions to financial institutions, corporates and affinities.