Boston Insurance Specialists is a family owned agency with two locations in Massachusetts
Another family owned independent insurance agency has been acquired in Massachusetts. On January 24th, Chicago-based wholesale brokerage firm Ryan Specialty Group, LLC, announced its acquisition of the assets and operations of Boston Insurance Specialists, Inc. (BIS). With offices in both Mansfield and Westfield, BIS has been an independently family owned wholesale insurance brokerage since 2001. The firm was co-founded by Debbie Murphy and Peggy Giancola.
Commenting on this acquisition, Tim Turner, Chairman and CEO of RT Specialty, said, “I have known Debbie and Peggy for many years and have great respect for them and the firm they have built. Their knowledge and level of service is top among their peers. We’re thrilled to have them join the RT Specialty team.”
Debbie Murphy, President of Boston Insurance Specialists, remarked, “We are excited about joining RT Specialty. We view this evolution of our firm as a fantastic opportunity to maintain our local presence while expanding the products and services we offer to our retail broker clients. Our entire BIS team will be joining RT Specialty, and we couldn’t be happier.”
According to the terms of the purchase and sale, BIS’ team will incorporate itself into Ryan Specialty’s R-T Specialty, a wholesale brokerage unit of the company. As a leading regional brokerage firm, Boston Insurance Specialists have binding authority will some of the leading Excess & Surplus Lines carriers throughout the U.S. and London. Its specialty product solutions include options for Property, Casualty, Professional Liability and Personal Lines. Upon joining RT Specialty, the firm will now focus on helping to grow RT Specialty’s New England presence.
