![]() In 2013, he received the Northwestern Alumni Association Medal of Honor, their highest award, given to alumni who combines superior professional distinction and/or exemplary volunteer service to society, with an outstanding record of service to Northwestern. That year, Northwestern also awarded Ryan an honorary doctorate. In 2009, Ryan was inducted into the Northwestern Athletic Hall of Fame. Ryan has been a member of Northwestern University's board of trustees for 37 years, 14 of which he was chairman. To date, there are 16 underwriting facilities within RSG Underwriting Managers (RSGUM). RSG's wholesale operation, RT Specialty, is the 3rd largest wholesale broker in the US. In 2010, Ryan formed Ryan Specialty Group (RSG), a global specialty insurance holding company with offices in North America and Europe. Aon is the largest reinsurance broker and 2nd largest insurance broker in the world, and a leader in risk management and human capital consulting. At Ryan's retirement in 2008, Aon operated with more than 500 offices in 120 countries generating revenues in excess of $7 billion. ![]() He served as the company's chairman and CEO for 41 years. The company continued to expand through organic growth and acquisitions, and in 1987, Ryan changed Combined's name to Aon Corporation. In 1982, Ryan Insurance Group merged with Combined International, and Ryan became CEO. In 1981, Ryan further expanded by purchasing the James S. In 1976, Ryan changed the firm's name to Ryan Insurance Group and in 1977, he bought the retail brokerage units from Esmark Inc, "expanding into risk management services for commercial and industrial clients". The stock offering helped raise capital to meet Ryan's long term goal: "diversification from a single line of insurance to multiple insurance products". This move transformed Pat Ryan & Associates into a nationwide business, and in 1971, with $25 million in annual sales, he took the firm public. Ryan borrowed money to buy a dormant insurance company, enabling him to underwrite the products his company was selling. By 1968, the firm was selling $15 million in premiums a year. This move "forever changed how auto dealerships operate" and in 1964, Ryan founded Pat Ryan & Associates, a brokerage and underwriting agency. In 1962, he founded the first Finance and Insurance (F&I) department at Dick Fencl Chevrolet in suburban Chicago, selling insurance products on behalf of Continental Casualty Company, now the primary subsidiary of CNA Financial. Pat Ryan front-and-center with his Chicago 2016 teamĪfter graduating from Northwestern University, Ryan immediately joined Penn Mutual's Chicago office as a life insurance agent. During his senior year, Ryan earned $8,000 selling personalized scrapbooks to dorm residents, an experience that "kindled his entrepreneurial spirit". He graduated with a bachelor's degree from Northwestern University's School of Business (now Kellogg School of Management) in 1959 with a degree in Finance and Literature. Ryan spent his summers shoveling concrete to help build Milwaukee's freeway system. Ryan is the son of an Irish-American father who ran a Ford dealership in suburban Milwaukee. Ryan owns a large minority interest in the Chicago Bears. Ryan is a member and former chairman of the board of trustees at Northwestern University, where both major athletic facilities, Welsh-Ryan Arena and Ryan Field, are named after him. He is also a benefactor of the Art Institute of Chicago Building's modern wing addition. He is married to Shirley Welsh Ryan, with whom he runs the Patrick G. Ryan was the chairman and CEO of the Chicago 2016 Olympic bid committee and is chairman of World Sport Chicago, an organization that formed out of Chicago's Olympic bid. RSG's first subsidiary, ThinkRisk, began business in December 2009 to provide underwriting and claims management services for media, technology, advertising and network security. In 2010, he founded Ryan Specialty Group (RSG) as a holding company aimed at providing specialty services to insurance brokers, agents and carriers. ![]() He is the founder and retired chairman and CEO of Aon Corporation. Ryan is an American billionaire insurance businessman.
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