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Greg Provenzo promoted to lead RT Binding Authority's London Markets business
The appointment comes as US surplus lines premiums topped $81 billion in 2024, rising 12.1% year over year, fueled by admitted carriers retreating from harder-to-price risks tied to areas like cyber and severe weather.
Insurance Business reports that RT Specialty, the wholesale broking arm of Ryan Specialty, has promoted Greg Provenzo to director of London Markets and Delegated Authority at RT Binding Authority.
Provenzo, a London Market veteran with more than 20 years of experience, will join RT Binding Authority's leadership team and provide strategic leadership and operational oversight for its London Markets commercial business. His responsibilities include managing syndicate and carrier relationships, developing underwriting strategy, and overseeing delegated authority portfolios, serving as a primary link between RT's production teams and London markets.
With the new role, Provenzo is stepping back from his position as president of RT Richmond, turning full responsibility for that office to Dave Adcock, who joined RT Specialty in 2019 through the acquisition of Atlantic Specialty Lines.
The promotion lands as London capacity becomes more closely linked to growth in the US surplus lines market, where stamping office data tracked across E&S filing offices showed premiums exceeded $81 billion in 2024, up 12.1% year over year. The outlet attributes much of that growth to standard admitted carriers pulling back from risks that are more difficult to price, including severe weather, cyber exposure, and emerging technologies.