Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has completed the acquisition of certain assets of the European managing general agent, Geo Underwriting Europe BV (Geo Europe), part of The Ardonagh Group.
The deal was completed on Oct. 1 for an undisclosed amount.
Geo Europe is based in Rotterdam, Netherlands, with operations in Germany and specializes in financial lines.
Geo Europe will join the Ryan Financial Lines (RFL) unit within the Ryan Specialty Underwriting Managers division of Ryan Specialty, complementing RFL’s European expansion objectives. The acquisition was previously announced on Sept. 3, 2024.
A separate deal to purchase the property/casualty MGUs owned by Ethos Specialty Insurance from Ascot Group was also originally announced on Sept. 3. That deal was completed in September. Ethos P&C was founded in 2017 by Ascot Group and has become a part of the Ryan Specialty Underwriting Managers (RSUM) division of Ryan Specialty. Ethos’ Transactional Liability MGU was not included in the transaction and has remained with Ascot.
Source: Ryan Specialty
Topics Excess Surplus Europe Underwriting
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