Ryan Specialty Group LLC modernized the management of its subscription operations on Tuesday.
The same day that wholesale and specialty brokers announced that they were planning to be listed on the same day and one day after announcing a change of leadership at their reinsurance unit Ryan Specialty said Nick Cortezi would chair RSG Underwriting Managers and Tom Clark would be the unit's CEO.
Previously, Mr. Cortezi won both titles after succeeding longtime RSGUM leader Mike Rice, who announced his retirement last year. Mr. Clark joined RSGUM in January from Nationwide Mutual Insurance Co., where he led the insurance company's surplus and surplus.
In addition, Matt Nichols, who was named President of RSGUM in September, was appointed as Senior Advisor and Consultant to Ryan Specialty Group Broker Leadership, said a statement from Ryan Specialty. Both Mr. Cortezi and Nichols joined Ryan Specialty through their merger with All Risks Ltd., which was completed last year.
Miles Wuller will succeed Nicols as president of the insurance unit, the statement said. Mr Wuller was the former chief operating officer of the unit.
Ryan Specialty is the third largest specialty broker and the third largest real estate / accident wholesaler, according to Business Insurance latest ranking. [1