Ryan Specialty
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The stellar growth numbers presage a challenging exercise in managing investor expectations going forward amidst easing tailwinds. -
The Pat Ryan-run wholesale broker said it grew organically by 20% and had $1bn in revenues in 2020.
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But it will get harder as rates soften, the tidal flow reverses and the company has to navigate a CEO succession.
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The wholesaler could have an enterprise value of upwards of $7bn when it goes public.
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The executive will also lead RSG’s commercial auto program, Interstate Insurance Management following CEO Jack Buchan’s retirement.
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Brian Boornazian will take on the role of executive chairman, with Emil Issavi as CEO.
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Sources said that the second biggest wholesaler in the US has already started to engage banks.
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The carrier has also named Jeremiah Bickham as incoming CFO and Michael VanAcker as COO.
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Palomar’s move into larger limit construction marks a change for the specialty insurer.
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Stetson Insurance provides funding for insureds that need extended terms of payment.
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Clark will manage retailer and carrier relations on behalf of RT Specialty and delegated authority business units within RSGUM.
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Last September the wholesale broker appointed Seth Johnson to lead the division.
