Ryan Specialty News

Ryan Specialty to Acquire Assets of MGU Greenhill From Alera

Ryan Specialty said it has signed a definitive agreement to acquire certain assets of Greenhill Underwriting Insurance Services from Alera Group, Inc. Terms of the deal were not disclosed. Houston-based Greenhill is a technology-enabled managing general underwriter focused on the …

MGU Private Client Select Teams With Ryan Specialty on High Net Worth

Private Client Select Insurance Services (PCS) said it has entered into an agreement with Ryan Specialty on a distribution partnership. The independent managing general underwriter started by American Internal Group (AIG) and Stone Point Capital will use Ryan Specialty as …

Ryan Specialty Announces Unification of Ryan Financial Lines

Ryan Specialty announced the unification of Ryan Financial Lines and the expansion of its product offerings. Ryan Financial Lines’ formation was announced in December 2023. The first phase was implemented in March 2024 with EmergIn Risk rebranding into RFL Cyber. …

Ryan Specialty Shuffling Continues; McCormack Named CEO of RT Specialty

A day after Ryan Specialty Holdings announced a handful of executive moves following the retirement of founder Patrick G. Ryan, the company continued to promote from within by naming Edward F. McCormack chief executive officer of RT Specialty. McCormack is …

Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO

Ryan Specialty Holdings, Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as will become CEO. Turner is currently president of Ryan Specialty and …

Ryan Specialty Completes Acquisition of Castel Underwriting Agencies From Arch

Ryan Specialty, the Chicago-based international specialty insurance firm, announced it has completed the acquisition of Castel Underwriting Agencies from Arch Financial Holdings (UK) Ltd. and minority shareholders. Headquartered in London, Castel is a managing general underwriting (MGU) platform with additional …

Ryan Specialty Q4 Net Income Up 28% on E&S Expansion

Ryan Specialty reported fourth quarter 2023 net income of $58.5 million and net income of $194.5 million for the full year. The Chicago-based specialty insurance firm grew Q4 net income by about 28% from the prior year, while full year …

SiriusPoint Enters Strategic Partnership With MGU Ryan Specialty Nordics

SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, and Stockholm-based managing general underwriter Ryan Specialty Nordics AB, have announced a new strategic trading partnership. SiriusPoint will support Ryan Specialty Nordics as it offers insurance coverage for onshore windfarms, primarily in …

Markets/Coverages: Ryan Specialty Expands Renewable Energy Offering on Global Basis

Ryan Specialty, the Chicago-based international specialty insurance firm, announced the expansion of its renewable energy insurance offering on a global basis with PERse International, a managing general underwriter based in London. PERse International specializes in both onshore and offshore renewable …

Ryan Specialty Signs Agreement to Buy Castel Underwriting Agencies From Arch

Ryan Specialty, the Chicago-based specialty insurance firm, announced it has signed a definitive agreement to acquire Castel Underwriting Agencies Ltd. from Arch Financial Holdings (UK) Ltd. and minority shareholders. Terms of the transaction were not disclosed. Founded in 2014, Castel …