Ryan Specialty Signs Definitive Agreement To Acquire AccuRisk Holdings

Rhea-AI Summary

Ryan Specialty, a leading specialty insurance firm, has signed an agreement to acquire AccuRisk Holdings, a medical stop loss managing general underwriter. The acquisition will enhance Ryan Specialty's employee benefits practice and provide a comprehensive integrated health solution. AccuRisk generated approximately $25 million in revenue for the 12 months ended July 31, 2023. The transaction is expected to close in December 2023.

Positive

• The acquisition of AccuRisk will enhance Ryan Specialty's employee benefits practice and provide unique capabilities and product depth.
• AccuRisk generated approximately $25 million in revenue for the 12 months ended July 31, 2023.
• The acquisition is expected to close in December 2023.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, is pleased to announce it has signed a definitive agreement to acquire AccuRisk Holdings, LLC (“AccuRisk”), a medical stop loss managing general underwriter (MGU). AccuRisk is headquartered in Chicago, IL and was founded in 2017.

Discussing the acquisition, Patrick G. Ryan, Founder, Chairman & CEO of Ryan Specialty, said, “Dan and the AccuRisk team are proven leaders in the medical stop loss space, having built one of the largest independent medical stop loss MGUs. Moreover, the AccuRisk team shares our vision to develop a comprehensive integrated health solution, providing retail brokers with a ‘one stop shop’ for self-insurance needs. Together Ryan Specialty and the AccuRisk professionals will be able to accelerate the rate of innovation in the employee benefits industry.”

John Zern, President & CEO of Ryan Specialty Benefits, commented, “AccuRisk adds exceptional talent, unique capabilities, and product depth to our employee benefits practice. AccuRisk’s offerings include medical stop loss underwriting, group captives, supplemental health care management, and occupational accident. AccuRisk’s deep expertise, combined with the breadth of its product offering, gives Ryan Specialty the capabilities to holistically service our retail broker and TPA clients. I look forward to collaborating with Dan as a part of the team to deliver innovative solutions on a nationwide basis.”

Dan Boisvert, President & CEO of AccuRisk, commented, “Since our founding, we have been focused on driving product innovation to enhance both flexibility and efficiency. We are thrilled to be partnering with Ryan Specialty who shares our vision for the future of employee benefits. We are equally excited to have the opportunity to work with Ryan Specialty to further enhance our distribution relationships. We believe that joining Ryan Specialty sets the stage for the next upward inflection point in our growth trajectory.”

AccuRisk generated approximately $25 million of revenue for the 12 months ended July 31, 2023.¹

Terms of the transaction were not disclosed. The acquisition is expected to close in December 2023.

About Ryan Specialty

Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty 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. Ryan Specialty’s mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents and carriers. ryanspecialty.com

¹ Revenue attributable to the acquired business and predecessors for the trailing twelve-month period ending July 31, 2023, as reported by AccuRisk’s management. This figure has not been audited.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231030268413/en/

Media

Alice Phillips Topping

Chief Marketing & Communications Officer

Ryan Specialty

Alice.Topping@ryanspecialty.com

(312) 635-5976

Investor Relations

Nicholas Mezick

Director, Investor Relations

Ryan Specialty

IR@ryanspecialty.com

(312) 784-6152

Source: Ryan Specialty

FAQ

What is the name of the company acquiring AccuRisk?

The company acquiring AccuRisk is Ryan Specialty.

What does AccuRisk specialize in?

AccuRisk is a medical stop loss managing general underwriter.

When was AccuRisk founded?

AccuRisk was founded in 2017.

How much revenue did AccuRisk generate for the 12 months ended July 31, 2023?

AccuRisk generated approximately $25 million in revenue.

When is the expected closing date of the acquisition?

The acquisition is expected to close in December 2023.