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Harney has also worked at Alliant, WTW and Marsh, among other firms. -
The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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President Tim Turner noted two pricing trends: property “stabilization” and casualty “acceleration”.
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Heron has over 25 years of brokerage experience, mostly in real estate roles.
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The broker’s opening price on Friday was $272.10 per share, versus Thursday’s closing price of $306.
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Aon’s CEO said the business was formerly “very underweight” in the middle market.
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Gallagher expects "little impact" from the FTC’s non-compete ban on the firm’s M&A strategy.
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Aon will provide further updates on NFP and deal financials, on its earnings call tomorrow.
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The practice aligns existing capabilities from Marsh Specialty and others.
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The executive will focus on food and beverage manufacturers and distributors.
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Existing non-competes for senior executives can remain in force, however.
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Light cat losses, reserve development, and pricing trends are key topics in Q1.
