Rice to Retire from Ryan Specialty Group at Year-End

Mike Rice Sr. will retire from Chicago-based Ryan Specialty Group LLC (RSG) at the end of the year, the company said.

Rice joined RSG in 2010 as chairman and CEO of RSG Underwriting Managers LLC (RSGUM) and will have completed 11 years of valuable service upon his retirement.

In addition to serving as chairman and CEO of RSGUM, Rice has served as a member of the board of directors of Ryan Specialty Group.

Patrick G. Ryan, founder, chairman and CEO of RSG, commented in a media release that when Rice “joined RSG in 2010, he committed to stay two possibly three years at the longest. Periodically over the last eleven years, I asked Mike to defer his retirement, and each time he selflessly agreed. He has done an outstanding job in leading our managing general underwriting business to great success.”

Ryan said he Rice have worked closely together for more than 50 years, first at Aon and then at RSG.

Founded in 2010, Ryan Specialty Group LLC is an international specialty insurance organization which includes a wholesale brokerage firm and highly specialized managing general underwriting companies designed specifically for brokers, agents and insurers.

RSG Underwriting Managers LLC (RSGUM) is the managing general underwriting division of Ryan Specialty Group and consists of a series of specialty managing general underwriters (MGU).

Source: RSG