US-based insurance agency network ISU Group, which was acquired by Australia-based general insurance broking network and underwriting agency group Steadfast Group last year, has promoted chief operating officer Dan McCarthy to CEO.

This promotion will see McCarthy succeed TJ Ryan III, who has been at the helm of ISU for three-and-a-half decades and will assume the newly created role of vice chairman of the board. Samantha Holman, Steadfast’s international CEO, said the goal is to achieve a seamless leadership transition in the key US agency network.

“Dan’s appointment is a natural development for the future of ISU and part of a carefully crafted succession plan to ensure continuity and confidence in the business,” Holman noted. “Dan has proven himself as an effective executive and visionary leader, with more than 30 years of experience in finance, underwriting, claims management and sales.

“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 network’s growth and development during that time.”

Read more: Major Australian brokerage network expands into US insurance market

Commenting on his next role, McCarthy said: “It is a great honor to be asked to lead the ISU. TJ has been an important leader of the ISU and it has been a pleasure to have him as a trusted mentor and colleague.

“ISU has incredibly talented and motivated people who embrace a culture of innovation and collaboration, which at its core will ensure we continue to deliver meaningful value to our network members and their clients.”

Meanwhile, as Vice President, Ryan will focus on strategic projects and opportunities, leveraging his extensive industry relationships.

Read more: ISU Group forms an advisory board after the firm acquisition

Commenting on his tenure, the long-time leader said: “Serving as CEO of ISU for nearly 35 years has truly been a privilege, and I am extremely proud of our achievements to date. Since establishing ISU, we have seen tremendous growth driven by our network members and team Outstanding I am confident that ISU will continue to excel under Dan’s leadership.

Started as a franchise more than 40 years ago, ISU now has 230 members in more than 40 states and partnerships with more than 75 insurance companies and wholesalers.

Holman added: “TJ is very excited about the future growth of ISU and is excited about the opportunity to continue supporting ISU in this new role. With Dan at the helm and full support from Steadfast, ISU stands on a solid foundation, and it will be exciting to see him lead the organization through the The next step in her growth journey.

What do you think about this story? Share your thoughts in the comments below.