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The broking team led by Christian Warrener is expected to join Oneglobal as part of the deal. -
PE house Vistria will back the buy-and-build strategy in the independent agency space.
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The Miami-based executive will leave in July after over four years with the (re)insurance broker.
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Rappa will take on the role effective May 20.
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YoY Ebitda margins for private brokers declined two points, to 29% in Q1.
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Based in Virginia, she will identify and pursue Mid-Atlantic opportunities.
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The FTC issued a final rule on April 23 banning the use of non-competes nationwide.
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Michael Yeats will now lead the automatic reinsurance facilities division in the US.
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Casualty is less of a concern, despite reserving issues.
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The buyer intends to fund the transaction with approximately 50% equity and 50% debt.
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Harney has also worked at Alliant, WTW and Marsh, among other firms.
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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