US broker network ISU Group, acquired by Steadfast last year, has announced COO Dan McCarthy will take over as CEO from TJ Ryan III, who has led the business for more than three decades.

Steadfast international CEO Samantha Hollman says Mr McCarthy’s appointment will provide a smooth transition under a succession plan designed to ensure continuity and confidence in the business. 

“Dan has established himself as an effective executive and a visionary leader, with more than 30 years of experience in finance, underwriting, claims management and sales,” Ms Hollman said. 

“As COO over the past 10 years, Dan has developed a deep understanding of ISU’s business and its role in the insurance distribution system, and has been instrumental in the growth and development of the network over that time.” 

Mr Ryan will move to the newly created role of vice chairman, where he will focus on strategic projects and industry opportunities, drawing on relationships established over his career. 

“Serving as ISU's CEO for nearly 35 years has truly been a privilege and I am incredibly proud of our accomplishments to date. Since ISU was formed, we have experienced tremendous growth driven by our network members and outstanding team,” he said. 

Mr McCarthy said: “TJ has been a valued leader of ISU, and it has been a pleasure to have him as a trusted mentor and colleague. ISU has incredibly talented and passionate people who embrace a culture of innovation and collaboration, which at its heart will ensure we continue to deliver meaningful value for our network members and their clients.” 

Steadfast acquired ISU Group for $US55 million ($83 million) last October. It is one of the largest independent insurance agency groups in the US. 

After starting as a franchise more than 40 years ago, the group now has 230 members across more than 40 US states. It has partnerships with more than 75 insurance carriers and wholesalers. 

“With Dan at the helm and Steadfast’s full support, ISU is on a solid footing and it will be exciting to see him lead the organisation through the next phase of its growth journey,” Ms Hollman said.