Posted on 27 Sep 2011
Ryan Specialty Group, LLC (RSG) announced today that it has completed the acquisition of specialist Lloyd's insurer Jubilee Group Holdings Limited (Jubilee). Jubilee currently operates two active Syndicates at Lloyd's, a managing agency and specialist underwriting distribution and insurance service businesses.
RSG also announced a number of new Board and key executive appointments. Max Taylor, a former Chairman of Lloyd's of London and Deputy Chairman of Aon UK, has accepted the role as Non-Executive Chairman of Jubilee's Board. Johnny Rowell, Managing Director of Ryan Specialty Europe Limited, joins the Board and has been appointed Chief Executive. Miles Wuller joins the board as Chief Financial Officer. Jonathan Matthews, previously Chief Risk Officer of Liberty Syndicate Management Limited, has joined the Board and been appointed Chief Operating Officer. Malcolm McCaig, formerly a big four audit partner, has joined the Board as an Independent Non-Executive Director.
Patrick G. Ryan, Chairman and CEO of RSG, said, "Completing the Jubilee acquisition represents a significant development in the marketplace, and we are pleased to be part of this major event. Lloyd's and the London market are firmly established as global leaders in the specialty markets. We believe there is a real opportunity in the specialty markets and Jubilee's existing platform focuses on specialty insurance – specialties that we know. This acquisition will allow us to introduce and support new products and programs in global markets in a meaningful way. Jubilee's presence within Lloyd's uniquely enhances the execution of our overall strategy of offering and delivering preeminent providers of specialty products and services to the insurers, brokers and agents we serve."
Johnny Rowell notes, "The Jubilee platform provides an excellent foundation for developing a world class risk-bearing organization. We look forward to building on our long-standing ties in the Lloyd's community to enhance market access to brokers and agents seeking specialty product offerings."
Max Taylor adds, "I am delighted to have been asked to Chair the Board and to work with Pat Ryan again and the outstanding Jubilee team."