Ryan Specialty, the Chicago-based international specialty insurance firm, announce that it has acquired 360° Underwriting (360), a managing general underwriter specializing in commercial construction. 360 is based in Dublin and Galway, Ireland, and will become a part of the Ryan Specialty Underwriting Managers division of Ryan Specialty.
Terms of the deal were not disclosed.
Since its founding in 2017, 360 has developed a reputation as leading experts in the expanding Irish construction market, said Ryan Specialty, adding that 360 has developed bespoke modeling practices to ensure consistency and manage aggregations across the portfolio.
As a result of this approach, 360 has been able to attract strong capital support in the classes of latent defect insurance and owner-controlled insurance program, both of which are critical products for the construction industry.
“Paul and Tommy are well known in the market for their technical underwriting expertise when it comes to construction,” commented Mark Birrell, executive chairman, Ryan Specialty Underwriting Managers International. “Not only are they a perfect fit from a cultural perspective, but they are an excellent complement to our existing latent defect business and a natural entry point for Ryan Specialty to Ireland. We’re excited to welcome them to Ryan Specialty.”
“We are thrilled to partner with Ryan Specialty. They are a very well-respected brand in the construction space. The Ryan Specialty Underwriting Managers platform, with its deep resources and cutting-edge support, is the perfect environment for us to expand our offering,” according to Paul Sherry and Tommy Byrne, managing directors of 360.
About Ryan Specialty
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers.
Source: Ryan Specialty
Topics Mergers & Acquisitions Excess Surplus Underwriting Insurance Wholesale
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