Welcome to our dedicated page for Ryan Specialty Hldgs news (Ticker: RYAN), a resource for investors and traders seeking the latest updates and insights on Ryan Specialty Hldgs stock.
Ryan Specialty Holdings Inc (NYSE: RYAN) delivers innovative specialty insurance solutions through wholesale brokerage and underwriting services for complex risks. This news hub provides investors and industry professionals with essential updates about the company's strategic positioning in the global insurance market.
Access real-time announcements including earnings reports, acquisition developments, and leadership updates, alongside analysis of RYAN's product innovations in risk management. The curated collection serves as a strategic resource for understanding the company's growth in niche insurance segments and its technology-driven underwriting approach.
Content spans regulatory filings, partnership announcements, and market expansion initiatives, reflecting RYAN's focus on managing hard-to-place risks through data analytics. Bookmark this page to monitor how the company leverages its industry expertise to address evolving challenges in specialty insurance distribution.
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.
Ryan Specialty Holdings, Inc. (NYSE: RYAN) has announced a significant refinancing and upsizing of its term loan facility. The company's subsidiary, Ryan Specialty, , has agreed with lenders to refinance its existing term loan and increase the facility size to $1.7 billion. This new Term Loan Facility is expected to offer more favorable terms, including:
1. An interest rate of SOFR plus 2.25%, a 50 basis point improvement
2. An extended maturity date to 2031
3. Proceeds from the Incremental Term Loan will be used to reduce outstanding borrowings on the company's revolving credit facility
The transaction is anticipated to close on September 13, 2024, subject to customary closing conditions.
Ryan Specialty, , a subsidiary of Ryan Specialty Holdings, Inc. (NYSE: RYAN), has successfully priced an offering of $600 million in 5.875% Senior Secured Notes due 2032. This represents a $100 million increase from the initially announced offering size. The notes, priced at 100% of par, are expected to be completed on September 19, 2024. They will be guaranteed on a senior secured basis by the Company's wholly owned subsidiaries and secured by substantially all assets securing existing notes and credit facilities. The net proceeds will be used to repay a portion of the Revolving Credit Facility borrowings used for the acquisition of US Assure Insurance Services of Florida, Inc., and to cover related fees and expenses.
Ryan Specialty, , a subsidiary of Ryan Specialty Holdings, Inc. (NYSE: RYAN), has announced a private offering of up to $500 million in senior secured notes due 2032. The notes will be guaranteed by the Company's wholly owned subsidiaries and secured by substantially all assets securing existing notes and credit facilities. Proceeds will be used to repay a portion of borrowings under the Revolving Credit Facility that funded the acquisition of US Assure Insurance Services of Florida, Inc., and to cover offering-related expenses. The offering is to qualified institutional buyers and non-U.S. persons, complying with Rule 144A and Regulation S of the Securities Act, respectively.
