Ryan Specialty Holdings, Inc. - RYAN STOCK NEWS

Ryan Specialty Group (NYSE: RYAN) has announced the acquisition of Crouse and Associates, a transportation specialist based in San Francisco, CA. Crouse, founded in 1975, adds significant expertise in transportation, Excess and General Liability, and Property and Casualty risks. The acquisition enhances Ryan Specialty's wholesale brokerage division, RT Specialty, and expands its national footprint in the transportation sector. Crouse generated approximately $26 million in revenue for the twelve months ended November 30, 2021.

Ryan Specialty Group reported a strong financial performance for Q3 2021, with Total Revenue soaring by 49.0% year-over-year to $352.8 million. The company achieved an Organic Revenue Growth Rate of 28.9%, surpassing last year’s 13.6%. However, it faced a Net Loss of $32.6 million, primarily due to one-time IPO costs. On a positive note, Adjusted EBITDAC jumped 55.9% to $105.0 million, with margins improving to 29.8%. The company also raised its full-year outlook for both Organic Revenue Growth and Adjusted EBITDAC Margin.

Ryan Specialty Group Holdings, Inc. (NYSE: RYAN) will release its third quarter 2021 financial results on November 11, 2021, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET on the same day, accessible via a live webcast on their investor relations website. Founded in 2010, Ryan Specialty provides innovative specialty insurance solutions and serves as a wholesale broker and managing underwriter. For more information, visit ir.ryansg.com.

Ryan Specialty Group has appointed Miles Wuller as the new Chief Executive Officer of RSG Underwriting Managers, effective September 30, 2021. Wuller has been with the company since its inception in 2010 and previously served as President of RSG Underwriting Managers. His promotion comes following the retirement of Tom Clark due to personal reasons. Founder Patrick G. Ryan expressed confidence in Wuller’s leadership abilities, emphasizing his contributions to the organization’s growth. The company aims to enhance its managing underwriting capabilities under Wuller’s direction.

Ryan Specialty Group (NYSE: RYAN) announced that President Tim Turner and CFO Jeremiah Bickham will join a virtual fireside chat at the KBW Insurance Conference on September 9, 2021, at 2:50 PM Eastern Time. The chat can be accessed via Ryan Specialty’s investor relations website. A replay will be available for 90 days after the event. Founded in 2010 by Patrick G. Ryan, Ryan Specialty Group specializes in providing innovative insurance solutions for brokers, agents, and carriers.

Ryan Specialty Group reported significant growth in its second-quarter results for 2021. Total revenue soared by 58.3% year-over-year to $390.0 million, driven by an organic revenue growth rate of 28.5%. Net income rose 27.1% to $63.4 million, with an adjusted net income growth of 73.5% to $92.3 million. Adjusted EBITDAC increased 79.4% to $140.5 million, achieving a margin of 36.0%. The company continues to navigate its post-IPO landscape positively, anticipating sustained growth and investment opportunities.

Ryan Specialty Group Holdings, Inc. (NYSE: RYAN) will release its Q2 2021 financial results after market close on September 1, 2021. A conference call is scheduled for 5:00 pm ET on the same day, with a live audio webcast available on their investor website. The dial-in numbers for the call are (877) 451-6152 (toll-free) and (201) 389-0879 (international), and participants are encouraged to connect 10 minutes early. A replay of the call will be accessible for one year on their site.

Ryan Specialty Group has reported a data security incident affecting certain employee email accounts. The breach, which occurred between April 4 and April 20, 2021, involved unauthorized access to email accounts. Sensitive personal information, such as names, Social Security numbers, and financial data, may have been exposed, although it remains unconfirmed if it was viewed. In response, Ryan Specialty has taken measures to secure the accounts and is offering complimentary credit monitoring and identity protection services for affected individuals for 24 months.

Ryan Specialty announced that underwriters exercised their option to purchase an additional 8,537,742 shares of Class A common stock following the initial public offering.

This brings the total shares issued to 65,456,020, generating gross proceeds of approximately $1.54 billion at an initial offering price of $23.50 per share. The total number of Class A common stock outstanding will be 109,903,867 post-offering, with shares trading under the symbol RYAN.