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Ryan Specialty Holdings, Inc. (symbol: RYAN) is a premier global organization dedicated to providing specialized insurance services. Founded by Mr. Patrick G. Ryan, the retired chairman and CEO of Aon Corporation, Ryan Specialty offers a range of services that include wholesale brokerage, underwriting management, and other specialized insurance solutions tailored for agents, brokers, and carriers worldwide.
Ryan Specialty is committed to delivering measurable value through its expertise in crafting sophisticated insurance and risk management solutions. The company focuses on hard-to-place risks, making it a vital player in the insurance industry. With a mission to provide outstanding industry experience and quality services, Ryan Specialty works closely with retail agents, brokers, and insurance carriers to meet their unique needs.
The company prides itself on its proven leadership, extensive industry experience, and quality service. Its core business operations include distribution, underwriting, product development, administration, and risk management. These services are designed to help clients manage complex risk profiles effectively.
Some recent achievements of Ryan Specialty include strategic partnerships and product innovations that enhance their service offerings. The company is actively involved in various projects aimed at improving their service delivery and expanding their market presence. Financially, Ryan Specialty maintains a robust position, making it a reliable choice for those seeking specialized insurance solutions.
For more detailed information about Ryan Specialty and their services, you can visit their website at www.ryansg.com or contact them directly at 855-201-2000.
Ryan Specialty has priced an upsized offering of $600 million in 5.875% senior secured notes due 2032, representing a $100 million increase from the initially announced size. The notes are priced at 99.500% of par, with closing expected on December 9, 2024. These new notes will be issued under the same indenture as the existing $600 million notes issued in September 2024. The proceeds will fund future acquisitions and investments, with potential temporary use of up to $400 million to repay revolving credit facility borrowings used for the recent $450 million Innovisk Capital Partners acquisition.
Ryan Specialty announces a private offering of $500 million in additional 5.875% senior secured notes due 2032. These notes will supplement the existing $600 million notes issued in September 2024. The notes will be guaranteed by the company's wholly owned subsidiaries and secured by substantially all assets securing existing obligations. The proceeds will fund future acquisitions, investments, and general corporate purposes, with potential temporary allocation of up to $400 million to repay revolving credit facility borrowings used for the recent $450 million Innovisk Capital Partners acquisition.
Ryan Specialty (NYSE: RYAN) has successfully completed its previously announced acquisition of Innovisk Capital Partners from Abry Partners and BHMS Investments, LP. Innovisk will be integrated into Ryan Specialty Underwriting Managers (RSUM), which represents the underwriting management segment of Ryan Specialty. The acquisition, which was initially announced on October 30, 2024, strengthens Ryan Specialty's position in the international specialty insurance services sector.
Ryan Specialty (NYSE: RYAN) has acquired Innovisk from Abry Partners and BHMS Investments. Founded in 2017, Innovisk operates as a portfolio of seven specialty MGUs, offering services in environmental, transactional liability, financial lines, professional liability, commercial auto liability, and UK professional indemnity and P&C. The company maintains offices in London, United States, and India. Under Abry and BHMS ownership since 2021, Innovisk has experienced strong organic growth and expanded its global presence. The acquisition aims to enhance Ryan Specialty's product innovation and market diversification capabilities.
Ryan Specialty (NYSE: RYAN) is in final discussions to acquire Innovisk Capital Partners from Abry Partners and BHMS Investments. Innovisk, founded in 2017, would join Ryan Specialty Underwriting Managers (RSUM) and brings a portfolio of seven specialty MGUs focusing on environmental, transactional liability, financial lines, and other insurance products. Based in London with offices in the US and India, Innovisk generated approximately $58 million in operating revenue for the 12 months ended July 31, 2024. The acquisition is expected to close early next month, though terms haven't been finalized.
Ryan Specialty reported its third-quarter 2024 results, highlighting a 20.5% increase in total revenue to $604.7 million, driven by an 11.8% organic revenue growth rate. Net income surged by 82.4% year-over-year to $28.6 million, translating to $0.09 per diluted share. Adjusted EBITDAC also saw a significant rise of 29.4% to $190.3 million, with an adjusted EBITDAC margin of 31.5%, up from 29.3% the previous year. Adjusted net income increased by 31.2% to $113.6 million, or $0.41 per diluted share. Operating expenses increased by 21.1%, primarily due to higher compensation and acquisition-related expenses. The company executed five acquisitions and issued new senior notes to strengthen its balance sheet. The board declared a regular quarterly dividend of $0.11 per share, payable on November 26, 2024. The company maintained its full-year 2024 outlook, expecting an organic revenue growth rate of 13.0%-14.0% and an adjusted EBITDAC margin of 32.0%-32.5%.
Ryan Specialty Holdings, Inc. (NYSE: RYAN), a leading international specialty insurance firm, has announced that it will release its Third Quarter 2024 financial results after the market closes on Wednesday, October 30, 2024. The company will hold a conference call to discuss these results at 5:00pm Eastern Time on the same day.
Investors and interested parties can access the live webcast of the conference call on Ryan Specialty's investor relations website at ir.ryanspecialty.com. For those who prefer to dial in, the numbers are (877) 451-6152 (toll-free) or (201) 389-0879 (international). Participants are advised to dial in 10 minutes before the scheduled start time. A replay of the webcast will be available on the company's investor relations website for one year following the call.
Ryan Specialty (NYSE: RYAN), a leading international specialty insurance services firm, announced the completion of its acquisition of certain assets of Geo Underwriting Europe BV (“Geo Europe”), part of The Ardonagh Group, on October 1, 2024. Geo Europe, based in Rotterdam, Netherlands, with operations in Germany, specializes in Financial Lines. The acquired assets will be integrated into the Ryan Financial Lines (RFL) unit within the Ryan Specialty Underwriting Managers division, supporting RFL’s European expansion goals. The acquisition was initially disclosed on September 3, 2024.
Ryan Specialty (NYSE: RYAN) has completed the acquisition of certain assets of EverSports & Entertainment Insurance from the Everest Group. EverSports, a managing general underwriter specializing in sports, leisure, and entertainment (SLE) risks, will join Ryan Specialty's existing SLE facility, Alive Risk.
Founded in 2013 and based in Carmel, Indiana, EverSports is a leader in the SLE insurance industry with broad diversification across various sub-classes. The acquisition aims to enhance both firms' product offerings and distribution access.
Miles Wuller, President and CEO of Ryan Specialty Underwriting Managers, expressed excitement about the cultural fit and the potential to further serve trading partners. David Nikolai, President of EverSports, highlighted the opportunity to enhance their product set and amplify growth as part of Ryan Specialty's managed underwriting platform.
Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, has completed the acquisition of Ethos Specialty Insurance's Property and Casualty (P&C) MGUs from Ascot Group This acquisition, initially announced on September 3, 2024, will integrate Ethos P&C, founded in 2017, into Ryan Specialty's Underwriting Managers (RSUM) division. The transaction excludes Ethos' Transactional Liability MGU, which will remain with Ascot Group. This strategic move is expected to strengthen Ryan Specialty's position in the specialty insurance market, potentially expanding its underwriting capabilities and market reach.
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