Founder Pat Ryan will not look to compete with former firm Aon's business
Aon founder Pat Ryan’s London-based managing general agency (MGA) is to be used as a springboard to launch a series of underwriting agencies.
Ryan Specialty (Europe) chief underwriting officer Malcolm Nightingale said he wanted to start writing business in financial lines products by July.
He said more MGAs would follow once Ryan Specialty (Europe) was fully operational.
“Pat Ryan is really looking worldwide,” he said. “It is obviously sensible to start your first operation outside the USA in London.
“I expect additional agencies here and additional agencies in a number of other countries.”
Nightingale said that he anticipated little trouble in finalising carrier arrangements for Ryan Specialty (Europe).
He stressed that Pat Ryan, who still had shares in Aon, would not compete with the megabroker’s binding authority business.
Ryan Specialty (Europe) was now looking for staff, including underwriters, and would be moving from its present site in London’s Lombard Street to a larger office.
Ryan Specialty (Europe) is a subsidiary of its Chicago-based parent Ryan Specialty Group (RSG). Another subsidiary launched last December, ThinkRisk, providing underwriting and claims management support in media, technology and advertising.