Ryan Specialty Group LLC (RSG) has acquired Global Special Risks LLC (GSR), a specialty underwriting manager from Willis North America Inc., a subsidiary of Willis Group Holdings. GSR specializes in providing innovative solutions for energy, marine and specialty product offerings with the London and North American markets. GSR will become part of RSG Underwriting Managers LLC. Willis Capital Markets & Advisory acted as a financial advisor to Willis. Terms of the transaction were not disclosed.
GSR was formed in 1979 as a London Market Coverholder (a managing general agency for Lloyd’s and London Companies), says Ryan Specialty. During the years, GSR has created new products specifically developed to fit the needs of energy and marine clients. The agency offers a broad range of exclusive products for this market, including well control, comprehensive general liability, excess liability, contractor’s equipment, professional liability, business interruption, cargo, maritime employer’s liability and more.
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