Ryan Specialty Group to Acquire LoVullo Associates
Ryan Specialty Group, LLC, announced Thursday, March 30, that it will acquire LoVullo Associates, Inc., which is a wholesale insurance brokerage in Depew, New York.
In a press release, Ryan Specialty stated that LoVullo will be absorbed into RT Specialty, LLC, which is the wholesale unit of Ryan Specialty. The current LoVullo office in New York will become the Buffalo, New York, branch of RT Specialty.
LoVullo Associates was opened in 1949 by Leonard S. LoVullo. The business initially sold policies for property and casualty, life, health, and accident coverage, before incorporating wholesale products in the 1960s.
Dave Pietrowski, the current president of LoVullo Associates, will remain president of RT Specialty’s new Buffalo branch.
RT Specialty was formed in March of 2010, and has locations throughout the country, including in Dallas and Houston.
The terms of the transaction were not disclosed, but Ryan Specialty anticipates that the acquisition will occur later this year.