Business

RSG names new bosses of its underwriting division

Ryan Specialty Group has announced the appointments of Nick Cortezi as chairman and CEO of RSG Underwriting Managers and Matt Nichols as president of RSG Underwriting Managers.

Mike Rice, who currently leads RSG Underwriting Managers and recently announced his intent to retire at the end of the year, has been appointed as senior chairman of RSG Underwriting Managers, through year-end.

RSG Underwriting Managers is the managing underwriting division of Ryan Specialty Group and provides centralised governance, shared services, executive leadership and oversight to its specialty underwriting businesses.

Both Cortezi and Nichols joined RSG with the merger of All Risks earlier this month. The company said the pair bring a wealth of underwriting expertise to RSG Underwriting Managers, having built over 36 unique and innovative programs within All Risks, and are “highly respected” throughout the industry for their “underwriting prowess and keen leadership skills”.

Upon the merger with RSG, All Risks was the fifth largest specialty intermediary in the US excess and surplus lines sector.

Patrick G. Ryan, Founder, chairman and CEO of RSG, said: “We are fortunate to have Nick and Matt at this time to succeed Mike and join the existing excellent management team at RSG Underwriting Managers. Nick and Matt have experienced high-teens double digit compounded annual organic growth for the past 20 years and have long established relationships with insurance carriers and brokers.

“The programs that Nick and Matt have created are unique, innovative and a win-win for both carrier and client. I am very much looking forward to Nick’s and Matt’s leadership and further development on the success of RSG Underwriting managers.”

He added: “ I’d like to again thank Mike Rice for his valued guidance during this transition period as senior chairman and for his leadership of RSG Underwriting Managers these past ten years.”

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