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Ryan Specialty in the News
CEO Kieran Dempsey will relinquish the additional title of president.
Ryan Specialty National Programs consolidates several RSUM business units.
WKFC’s chief executive D’Onofrio will become RSUM’s global CUO.
Eric Quinn was named president of Ryan’s MGU operations as Mark Engel joined in marine and energy.
This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.
CEO Tim Turner said the firm still has an ambitious M&A pipeline and financial flexibility to execute deals.
Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
Richard Winborn joins as president, while Patrick Mitchell takes on the COO role.
The MGU also announced a string of promotions to leadership, including RWI CUOs and a new head of Europe.
The MGA platform will become part of Ryan Specialty Underwriting Managers.
Management is showcasing its ambition, but it’s also dialing up risk.
The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
The Insurance Insider US news team runs you through the earnings results for the day.
The sale is expected to close next month, though terms are not yet final.
This follows a spate of program manager deals Ryan Specialty has made.
The binding authority market is also “ripe” for consolidation, the CEO said.
With the move, RT adds a CEO to its binding authority and a CEO to its RT ProExec businesses.
Ethos’ transactional liability MGU is not included in the deal.
The executive previously spent over 11 years at Captive Resources.
The underwriting units produced revenue of $11mn in the year to June 30.
Geo Europe CEO Walter Craft will remain with the financial lines business.
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