R-T Specialty is acquiring the whole sale insurance business of American E&S Insurance Brokers (AES) for an undisclosed sum. The wholesale brokerage division of Ryan Specialty Group will buy the AES stake from Wells Fargo & Company’s unit, Wells Fargo Insurance Services.
As a part of the deal, R-T Specialty will buy all of the operating assets and related liabilities of AES, including its eight offices. The buyer will also appoint nearly all of the employees in those office locations.
Click here for the release from Market Wire.