August 1, 2024 by matray

Ryan Specialty, an international specialty insurance firm, announced that it is forming an exclusive relationship with MagMutual Insurance Co. This relationship is through Sapphire Blue, which specializes in developing sophisticated solutions to complex healthcare risks, and is a part of the firm’s underwriting specialty, Ryan Specialty Underwriting Managers.

Sapphire Blue underwrites senior living and allied healthcare liability and will become MagMutual’s exclusive underwriter for policyholders outside the traditional physician and hospital model, most significantly as related to senior living and allied healthcare facilities.

According to Ryan Specialty, the exclusive relationship will strengthen product innovation, customer service, and risk management.

“MagMutual is a leader in the physicians and hospital professional liability insurance market, and we are pleased to strategically align our healthcare practice with them,” said Patrick Ryan, founder, chairman and chief executive at Ryan Specialty. “We appreciate the collaboration of Neil Morrell and MagMutual’s talented team during this process, and we look forward to jointly bringing innovation and greater customer solutions to our clients and their insureds.”

“Bringing together the two most positively disruptive, fastest-growing and customer-focused organizations in healthcare liability insurance is an exciting prospect for our current and future agents and customers,” said Neil Morrell, MagMutual chief executive officer. “The synergies are not only self-evident, they are potentially transformative.”

"The collective experience, expertise and brand recognition of our two organizations is exceptional in the healthcare liability marketplace,” said Nancy McMahon, Saphire Blue chief executive officer. “Together we will expand our healthcare liability products and offerings to better serve those who care for others.”