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| [January 14, 2013] |
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Great American Insurance Group and ThinkRisk Underwriting Agency Announce Change to Converging Risk Program
CINCINNATI --(Business Wire)--
Great American Insurance Company, a member of Great American Insurance
Group and ThinkRisk Underwriting Agency (ThinkRisk), part of Ryan
Specialty Group (RSG), have mutually agreed that due to increasing
channel conflicts, ThinkRisk will pursue a change in carrier
relationships for its Converging Risk program.
Bruce R. Smith, President, Great American Insurance Group's Executive
Liability Division, noted, "We value our relationship with ThinkRisk and
are committed to working with their team to ensure an orderly transition
of this program. We are looking forward to pursuing other opportunities
to work with RSG in the future. Great American's Executive Liability
Division has been serving the insurance marketplace for 26 years, and we
look forward to continuing to be a carrier of choice for our producers
and insureds."
RSG Chairman Patrick G. Ryan noted, "At RSG, our goal is to build strong
underwriting management companies that focus on growth and innovation.
We respect and appreciate Great American's support and contribtions as
we have grown ThinkRisk."
ThinkRisk President Nicole Haggerty added, "We are grateful for our
relationship with Great American and for the support they have provided
for the Converging Risk program. We are optimistic about the new
opportunities and products that ThinkRisk will deliver to our producers
and clients in the future."
ThinkRisk will continue to manage the Converging Risk Program on behalf
of Great American Insurance until April 30th 2013.
About Ryan Specialty Group, LLC and ThinkRisk Underwriting Agency
Ryan Specialty Group, LLC is a global holding company which includes
ThinkRisk Underwriting Agency and other highly-specialized underwriting
companies, a Lloyd's insurer and specialty services designed
specifically for agents, brokers and insurers. www.ryansg.com
About Great American Insurance Group
Great American Insurance Group's roots go back to 1872 with the founding
of its flagship company, Great American Insurance Company. Based in
Cincinnati, Ohio, the operations of Great American Insurance Group are
engaged primarily in property and casualty insurance focusing on
specialty commercial products for businesses, and in the sale of
traditional fixed and fixed-indexed annuities in the education, bank and
individual markets. Great American Insurance Company has received an "A"
(Excellent) or higher rating from the A. M. Best Company for over 100
years (most recent rating evaluation effective March 29, 2012). The
members of the Great American Insurance Group are subsidiaries of
American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio.
AFG's common stock is listed and traded on the New York Stock Exchange
and the Nasdaq Global Select Market under the symbol AFG.
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