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Downsized Partnerships in Surplus Lines

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The surplus lines industry is getting smaller, at least in terms of the number of wholesale partners retail brokers are choosing to do business with. Patrick Ryan, chairman and CEO of Ryan Specialty Group, says that Aon's announcement this year to limit its wholesale partnerships to just two brokers -- Ryan Specialty Group and AmWins -- is a trend that will continue. It comes down to cost, he says in this interview with Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego. Ryan says the industry will continue to see downsized partnerships, even at the carrier level. Even so, he doesn't believe the surplus lines industry will see more carriers bypassing wholesale partners to go direct to agents. That trend may even "shift back."

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