Ryan Specialty
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Onex CEO Bobby Le Blanc will retire from Ryan Specialty’s board of directors. -
The HNW MGA previously had an exclusive distribution agreement under a partnership signed in July 2024.
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Quota share is less common in the medmal space, where layered and shared structures have been dominant.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The broker continues to expect 20% to 30% property rate reductions, as well as increased market competition.
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The Insurance Insider US news team runs you through the earnings results for the day.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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Howden is facing fallout from its push into the US retail market via mass hires.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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Jeremiah Bickham will be a strategic adviser until the end of the year.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The executive will initially focus on casualty fac business incoming as the result of the Markel renewal rights deal.
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Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The executive succeeds current CEO Petway, who is retiring.
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The company was right to drop its reinsurance unit and refocus on its specialty roots.
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The wholesaler also paid nearly $29mn for the Irish MGU 360 Underwriting.
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The president expects to see benefits from the deal in H2 2026.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
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The Michigan-based firm will join Ryan Specialty’s binding authority division.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The executive is departing for a role at Birch Risk.
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The company completed the acquisition yesterday.
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The standard market has not ‘meaningfully’ impacted the rate of flow in the aggregate.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The program will offer liability coverage up to $5mn per occurrence.
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ISA is part of Ryan Specialty National Programs, which launched last month.
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After a period of business building, MGAs will likely spend more time optimizing.
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The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
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Keogh worked at Aon for nearly 30 years before retiring in 2022.
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CEO Kieran Dempsey will relinquish the additional title of president.
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The executive will join the firm effective May 1.
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Ryan Specialty National Programs consolidates several RSUM business units.
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WKFC’s chief executive D’Onofrio will become RSUM’s global CUO.
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Eric Quinn was named president of Ryan’s MGU operations as Mark Engel joined in marine and energy.
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This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.
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CEO Tim Turner said the firm still has an ambitious M&A pipeline and financial flexibility to execute deals.
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Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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Richard Winborn joins as president, while Patrick Mitchell takes on the COO role.
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The MGU also announced a string of promotions to leadership, including RWI CUOs and a new head of Europe.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The sale is expected to close next month, though terms are not yet final.
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This follows a spate of program manager deals Ryan Specialty has made.
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The binding authority market is also “ripe” for consolidation, the CEO said.
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Howard Siegel remains CEO of the MGU.
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With the move, RT adds a CEO to its binding authority and a CEO to its RT ProExec businesses.
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Ethos’ transactional liability MGU is not included in the deal.
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The executive previously spent over 11 years at Captive Resources.
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The underwriting units produced revenue of $11mn in the year to June 30.
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Geo Europe CEO Walter Craft will remain with the financial lines business.
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The Houston, Texas-based program manager will join Ryan Specialty’s healthcare MGU Sapphire Blue.
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Ascot will evaluate other options for its ~$140mn-premium transactional liability unit.
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The wholesaler is shifting its business mix towards delegated underwriting, which should help sustain growth.
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The promotion follows a distribution trading partnership deal with MGU PCS.
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The acquisition includes up to $400mn of performance-based contingent considerations measured through 2026.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The announcement confirms news this publication revealed in July.
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A roundup of today’s need-to-know news, including Commissioner Lara’s FAIR plan reforms.
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The arrangement enables PCS to expedite growth.
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A quick roundup of today’s need-to-know news, including the DoJ/NatGen lawsuit and RenRe's earnings call.
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The facility will write management, financial and professional lines.
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US Assure has been exploring a potential sale through a narrow process run by Dowling Hales.
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Jeremiah Bickham and Janice Hamilton have also been promoted as part of the succession plan.
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Ryan Specialty’s CEO opened the Insurance Insider US 2024 conference.
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The promotions are within RT Specialty's environmental and construction professional practice.
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
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President Tim Turner noted two pricing trends: property “stabilization” and casualty “acceleration”.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The carrier will reassess the market in the fourth quarter, or early in 2025.
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The MGA platform has been under auction since last year.
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Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.
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The deals completed in 2023 represented over $140mn of annual historic revenue, Ryan said.
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Devers’ was on the board of Ryan Specialty since 2013.
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The deal follows this publication’s report that the Bank of America-run sale process of Castel was drawing robust interest.
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The subsidiary will offer clients and capital providers a wide-ranging, single platform of financial lines products, with operations across the US, Europe, LatAm and London.
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He was previously president of Kelly Underwriting Services, now part of CorRisk.
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In Q3, inorganic growth added over four percentage points to the brokerage’s top line, as multiples remain “pretty consistent”.
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The Inside P&C news team runs you through the earnings results for the day.
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Anthony Kuczinski has over 38 years of (re)insurance experience, including 15 years as president and CEO of Munich Reinsurance US Holdings.
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The medical stop-loss MGU produces annual revenue of around $25mn.
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Rate declines have not been as pronounced in private D&O, though competition is increasing.
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Guerville has worked at Ryan Specialty for nearly seven years in various positions, including actuarial director, director of underwriting and deputy CUO.
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Additionally, the recent takeovers of medical stop-loss firms Ace Benefit and Point6 accounted for an aggregate cash consideration of $46.8mn.
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The company has yet to see the standard market meaningfully impact rate or flow in the aggregate.
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The Inside P&C news team runs you through the earnings results for the day.
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The pair will retain their leadership roles for MGUs WKFC, CorRisk and AgRisk.
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Onex reduced its position in the wholesaler by almost two-thirds to nearly 3.7% from around 11.3%, while president Tim Turner sold ~700,000 of his nearly 4.9 million shares.
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Founded in 1997, Socius provides management, professional and cyber liability and P&C insurance.
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Executives were speaking after the broker reported Q4 earnings, in which organic growth accelerated 2.6 points sequentially but slowed 7.2 points year-on-year to 12.9%.
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The company also named Jeff Smith as president and CUO of the MGU.
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Both executives were serving as presidents of their respective divisions at the brokerage arm.
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Singhvi most recently served as the company’s COO after joining the firm in 2018.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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In addition, the wholesale broker disclosed a $7.7mn consideration in the takeover of certain assets of Centurion Liability Insurance Services.
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The firm said the loss is related to replacement coverage costs from policies that were placed in 2022 but were underwritten by an unsatisfactory carrier.
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The broker earlier reported that its Q4 organic growth decelerated 3.4 points sequentially and 5.1 points year-on-year to 10.3%, amid an overall public broker market slowdown.
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This marked a 5.1-point slowdown compared to the prior-year period.
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The company plans to provide both primary and excess layers coverage across the region, depending on the opportunities in each territory.
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The newly formed structure combines the operations of New York-based Concord Specialty Risks and London-based Ryan Specialty Transactional Risks International.
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The business is a binding authority and wholesale broking specialist, with annual revenues of $23mn.
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Inside P&C’s news team runs you through the key highlights of the week.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Management said secular drivers for organic growth remain intact despite headwinds persisting in E&S, M&A transaction liability policies and public D&O.
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The broker also lowered its organic growth guidance for the full year 2022 to 14.5%-16%, compared with the prior guidance range of 16.5%-18%.
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The company’s Q3 organic growth decelerated 8.6 points sequentially and 15.2 points year-on-year to 13.7%.
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Total revenues at the Chicago-based wholesale broker increased 16.7% to $412mn from Q3 last year, driven by the expansion of the E&S market, organic growth and M&A.
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The new executive will support the company’s underwriting practices, launching new program opportunities, and reinforcing efficient operational activities.
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The executive worked for JP Morgan after various stints in the insurance industry with State Farm and Allstate.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Ryan Specialty CEO said that loose wordings were contributing to the surging size of claims
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The company also announced it was rebranding Interstate Insurance Management to Ryan Specialty Transportation Underwriting Managers.
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Ryan Specialty president Tim Turner said that the overall flow of submissions into the excess channel “continues to grow at a record pace” with no signs of slowing down.
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The program provides up to $15mn in capacity per account and is underwritten by Ryan Specialty-owned MGU EmergIn Risk.
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Evans has more than 10 years of experience with NSP.
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The company announced three promotions to senior leadership roles, including Eric Quinn and Chris Taggart to senior vice president.
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The executive added that the second quarter saw a larger movement of business into E&S due to the challenging reinsurance renewal cycle for the admitted market.
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The intermediary raised its forecasted range for organic for the full year to 16.5% to 18%.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The broker accelerated organic growth by 4.7 points sequentially to 20.1%.
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Total revenue at the Chicago-based broker grew 24.2% year-on-year to $387mn, up from the 16% growth reported in the previous quarter.
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Tyluki joins PERse from GCube Insurance, and has 18 years of experience in energy coverage.
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Nationwide will provide paper via traditional risk transfer through Ryan Specialty’s managing general underwriters or through the formation of a captive.
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The wholesale broker pointed to its training programs and unique culture as keys to expanding its talent base, but also expects to hire experienced talent.
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The wholesale broker's Q4 organic revenue dipped to 15.4% as the company expanded operating margins by 70 bps.
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Founded by Ryan Specialty, the underwriter can now write limits of up to $400mn per project.
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Johnston will serve as vice president of underwriting at the newly created E&S division, while Skiba will oversee the firm’s claims unit and TPA management.
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The fresh paper comes in addition to the underwriter’s $150mn of construction builder’s risk and $100mn of critical flood, earthquake and named windstorm capacity.
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The construction executive has been with the MGA since it was launched more than 10 years ago.
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Under the terms of the deal, Aspen will provide paper across multiple geographies with three programs in the US and four in Europe.
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The specialty insurer intends to use the proceeds for general corporate purposes.
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Craig Willey will be based in Houston and brings aboard operational and transactional experience.
