Settling in as RT New Day
By: Jefferey S. Lejfer, CPCU, President, RT New Day
As you are aware, New Day Underwriting Managers was recently acquired by Ryan Specialty Group (RSG) and is now operating as RT New Day under the R-T Specialty, LLC family of companies. Our team has had a chance to settle in over the past quarter and adjust to our new “home.” Companies are sold every day for a variety of reasons but Jeff Slivka, Tim Farrell and I saw this sale as an opportunity to partner with an established, reputable firm that would allow us to maintain the quality of the deliverables to our clients and provide capital for future growth. Our business approach has always been to operate with a growth strategy. As we continued to hit significant milestones in our growth curve, we sought a partner that would provide us the opportunity to further grow our business and take it to the next level.
One of our first long-term goals for New Day was to reach $100 million in premium. I’m happy to report that this goal was achieved just this quarter. We expect that RT New Day will reach the next major milestone of $250 million in premium in a much shorter timeframe as we leverage the resources, capital, broker contacts and carrier relationships that are now accessible through RT Specialty. The business approach at RT New Day has not changed and our day-to-day goal is to provide the optimal solution for you to present to your client.
Many of the time consuming tasks such as Human Resources, Accounting, Information Technology and Administration have been centralized within RT Specialty. This allows RT New Day’s management team to focus its efforts on strategy and growth of the business. The approach also provides for a high level of support to our consultants and account management team and allows RT New Day to focus on delivering the optimal solution to you.
Our RT New Day team continues to provide a qualified technical staff to address the environmental and construction related professional liability risk management needs of your insureds. We look forward to working with Pat Ryan, Tim Turner and Ed McCormack, the RT Specialty management team as together, we grow to $250 million in premium and establish the national environmental and construction professional liability practice for RT Specialty.
We look forward to continuing this journey with all of our partners and strengthening existing carrier and retail broker relationships as well as developing new ones.