International Specialty Insurance Inc., a Winston-Salem-based insurance company offering disability and other insurance products for athletes, entertainers and other “high-earning professionals” is being acquired by a Chicago-based underwriting group for an undisclosed amount.

Ryan Specialty Group LLC announced a definitive agreement to purchase International Specialty Insurance’s assets and operations.

Ryan Specialty Group is composed of Ryan Turner Specialty, a wholesale distributor of specialty insurance services, and RSG Underwriting Managers that offers underwriting products for a variety of industries.

Matthew Ferraro, Joseph Ferraro and Christopher Larcheveque, the owners of International Specialty Insurance, and their team will become employees with Ryan Specialty Group.

“They have carved out a market niche and developed an expertise that complements the other businesses within our managing general underwriting division,” said Ryan Specialty CEO Patrick G. Ryan om a syaye,emt

In the release, Ryan and the Ryan Specialty Group referred to International Specialty Insurance as a managing general underwriter with a “high level of professionalism and underwriting acumen.”

Matthew Ferraro, managing director of International Specialty Insurance, said that the Ryan Specialty Group Underwriting Managers model is “the perfect fit” to allow ISI to capitalize on its goal of “expanding the business’ addressable market and driving growth.”

The release can be found here.