Ryan Specialty Signs Definitive Agreement to Acquire Certain Assets of Geo Underwriting Europe
Ryan Specialty (NYSE: RYAN) has signed a definitive agreement to acquire certain assets of Geo Underwriting Europe BV ('Geo Europe'), a European managing general agent specializing in Financial Lines. Geo Europe, based in Rotterdam with operations in Germany, will join Ryan Financial Lines (RFL) within Ryan Specialty Underwriting Managers. The acquisition is expected to close in Q3 2023.
Geo Europe's portfolio focuses on specialized mid-sized companies and global large corporates across the EU, offering professional indemnity, management liability, and cyber insurance. Walter Craft will be appointed as Managing Director of Ryan Financial Lines – Benelux and DACH. This acquisition aligns with RFL's European expansion objectives and is expected to strengthen Ryan Specialty's offerings in the region.
Ryan Specialty (NYSE: RYAN) ha firmato un accordo definitivo per acquisire alcuni asset di Geo Underwriting Europe BV ('Geo Europe'), un agente generale di gestione europeo specializzato in Linee Finanziarie. Geo Europe, con sede a Rotterdam e operazioni in Germania, si unirà a Ryan Financial Lines (RFL) all'interno di Ryan Specialty Underwriting Managers. Si prevede che l'acquisizione si concluda nel terzo trimestre del 2023.
Il portfolio di Geo Europe si concentra su aziende medio-piccole specializzate e grandi corporazioni globali nell'UE, offrendo indennità professionale, responsabilità di gestione e assicurazione informatica. Walter Craft sarà nominato Direttore Generale di Ryan Financial Lines – Benelux e DACH. Questa acquisizione si allinea con gli obiettivi di espansione europea di RFL e si prevede che fortifichi l'offerta di Ryan Specialty nella regione.
Ryan Specialty (NYSE: RYAN) ha firmado un acuerdo definitivo para adquirir ciertos activos de Geo Underwriting Europe BV ('Geo Europe'), un agente general de gestión europeo especializado en Líneas Financieras. Geo Europe, con sede en Rotterdam y operaciones en Alemania, se unirá a Ryan Financial Lines (RFL) dentro de Ryan Specialty Underwriting Managers. Se espera que la adquisición se complete en el tercer trimestre de 2023.
El portafolio de Geo Europe se centra en empresas medianas especializadas y grandes corporaciones globales en la UE, ofreciendo indemnización profesional, responsabilidad de gestión y seguros cibernéticos. Walter Craft será nombrado Director General de Ryan Financial Lines – Benelux y DACH. Esta adquisición se alinea con los objetivos de expansión europea de RFL y se espera que refuerce la oferta de Ryan Specialty en la región.
라이언 스페셜티 (NYSE: RYAN)가 금융 라인 전문 유럽 총괄 대리인인 Geo Underwriting Europe BV ('Geo Europe')의 특정 자산을 인수하기 위한 확정 계약을 체결했습니다. 로테르담에 본사를 두고 독일에서 운영되는 Geo Europe는 라이언 스페셜티 언더라이팅 매니저 내의 라이언 금융 라인(RFL)에 합류할 것입니다. 인수는 2023년 3분기에 마무리될 것으로 예상됩니다.
Geo Europe의 포트폴리오는 EU 전역의 중견 기업과 글로벌 대기업을 대상으로 전문 배상 책임, 경영 책임 및 사이버 보험을 제공합니다. 월터 크래프트가 라이언 금융 라인 – 베네룩스 및 DACH의 전무이사로 임명될 것입니다. 이 인수는 RFL의 유럽 확장 목표와 일치하며, 라이언 스페셜티의 지역 내 제공을 강화할 것으로 예상됩니다.
Ryan Specialty (NYSE: RYAN) a signé un accord définitif pour acquérir certains actifs de Geo Underwriting Europe BV ('Geo Europe'), un agent général de gestion européen spécialisé dans les Lignes Financières. Geo Europe, dont le siège est à Rotterdam et qui opère en Allemagne, rejoindra Ryan Financial Lines (RFL) au sein de Ryan Specialty Underwriting Managers. La clôture de l'acquisition est prévue pour le troisième trimestre de 2023.
Le portefeuille de Geo Europe se concentre sur les entreprises de taille intermédiaire spécialisées et les grandes entreprises mondiales au sein de l'UE, offrant une indemnité professionnelle, une responsabilité de gestion et une assurance cybernétique. Walter Craft sera nommé Directeur Général de Ryan Financial Lines – Benelux et DACH. Cette acquisition est alignée sur les objectifs d'expansion européenne de RFL et devrait renforcer l'offre de Ryan Specialty dans la région.
Ryan Specialty (NYSE: RYAN) hat einen verbindlichen Vertrag zur Übernahme bestimmter Vermögenswerte von Geo Underwriting Europe BV ('Geo Europe'), einem europäischen Hauptvermittler, der auf Finanzlinien spezialisiert ist, unterzeichnet. Geo Europe, mit Sitz in Rotterdam und Aktivitäten in Deutschland, wird sich Ryan Financial Lines (RFL) innerhalb von Ryan Specialty Underwriting Managers anschließen. Der Abschluss der Übernahme wird im dritten Quartal 2023 erwartet.
Das Portfolio von Geo Europe richtet sich an spezialisierte mittelständische Unternehmen und global tätige Großunternehmen in der EU und bietet Berufs- und Managementhaftpflicht sowie Cyber-Versicherungen an. Walter Craft wird zum Geschäftsführer von Ryan Financial Lines – Benelux und DACH ernannt. Diese Übernahme entspricht den Expansionszielen von RFL in Europa und wird voraussichtlich das Angebot von Ryan Specialty in der Region stärken.
- Expansion into European Financial Lines market
- Acquisition of established team with strong market reputation
- Complementary fit with Ryan Financial Lines' European expansion objectives
- Addition of specialized mid-sized and large corporate client portfolio
- None.
Insights
Ryan Specialty's acquisition of Geo Europe's assets marks a strategic expansion into the European insurance market, particularly in Financial Lines. This move aligns with Ryan Specialty's growth objectives and enhances its international presence. The acquisition brings several potential benefits:
- Expanded market reach in the EU, especially in the Benelux and DACH regions
- Access to Geo Europe's specialized portfolio and experienced underwriters
- Strengthened position in professional indemnity, management liability and cyber insurance
While financial terms weren't disclosed, the deal is likely to be accretive to Ryan Specialty's earnings in the medium term, given Geo Europe's focus on mid-sized and large corporate clients. Investors should monitor the integration process and any potential synergies realized post-acquisition.
This acquisition signifies a notable shift in the European specialty insurance landscape. Ryan Specialty's move to incorporate Geo Europe into its Ryan Financial Lines unit demonstrates a strategic push to capture market share in key European markets. The deal brings several advantages:
- Enhanced underwriting expertise in Financial Lines
- Improved distribution capabilities across Europe
- Potential for cross-selling opportunities
The addition of Walter Craft to the Ryan Financial Lines Executive Committee suggests a commitment to leveraging local expertise. This move could lead to improved risk assessment and potentially better-priced products for clients, which may translate to increased profitability for Ryan Specialty in the long run.
Geo Europe’s core portfolio primarily comprises of specialized mid-sized companies and global large corporates across the European Union written by underwriters with decades of experience in professional indemnity, management liability and cyber. Walter Craft will be appointed as Managing Director of Ryan Financial Lines – Benelux and DACH and will join the Ryan Financial Lines Executive Committee.
Commenting on this acquisition, Jamie Bouloux, CEO of Ryan Financial Lines, said, “We are very much looking forward to having the Geo Europe team join Ryan Financial Lines as we look to intensify our offering across
Walter Craft, MD and CUO for Geo Europe, remarked, “Ryan Specialty is the right platform for Geo Europe to further strengthen its offerings and to allow our team members to really excel. Ryan Specialty Underwriting Managers’ analytical underwriting support and administrative and distribution capabilities align nicely for the next step in our journey, as we continue to focus on providing the best solutions and service to our clients. We are grateful to The Ardonagh Group who have supported the launch of Geo Europe in 2019 and are very excited about this next step in joining Ryan Financial lines and the wider Ryan Specialty family.”
Terms of the transaction were not disclosed.
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
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Alice Phillips Topping
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Ryan Specialty
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Nicholas Mezick
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Ryan Specialty
IR@ryanspecialty.com
(312) 784-6152
Source: Ryan Specialty
FAQ
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