Ryan Specialty Signs Definitive Agreement To Acquire USQRisk Holdings

CHICAGO--(BUSINESS WIRE)-- Ryan Specialty (NYSE: RYAN) (“Ryan Specialty”), a leading international specialty insurance firm, is pleased to announce that it has signed a definitive agreement to acquire certain assets of USQRisk Holdings, LLC (“USQ”). USQ will become a part of the alternative risk business within Ryan Specialty.

Formed in 2020 by an experienced management team operating in New York and London, USQ underwrites non-traditional insurance risks. USQ has two core business divisions: Alternative Risk and Facilities. Their Alternative Risk specialty underwrites, structures, prices and places specialty insurance for corporate clients seeking bespoke, multi-year risk solutions. Their Facilities specialty creates new products for unique risks in highly dislocated markets. USQ is supported by several highly rated insurance carriers.

Kieran Dempsey, CEO of Ryan Alternative Risk, commented, “USQ adds tremendous breadth and depth to our growing alternative risk business. USQ is known for their innovation across a wide variety of structured solutions, including liability, property, and auto. USQ’s expansion into facilities has given Ryan Specialty the chance to work directly with USQ though our AXSAL Re partnership, which provides excess coverage for mid-sized trucking fleets. We believe USQ to be among the highest-quality alternative risk specialists in the industry and are very much looking forward to the team joining our firm.”

Anibal Moreno, CEO of USQ, added, “We chose Ryan Specialty because we consider them to be the leader in alternative risk. As part of Ryan Specialty, we will have access to preferred trading status with the world’s largest brokers, broad-based capital support from the industry’s top insurance markets, a world-class suite of technology and back-office support, and an entrepreneurial culture that rewards innovation. We believe that our team will be able to amplify its breadth and depth at Ryan Specialty.”

Terms of the transaction were not disclosed. The acquisition is expected to close during the second quarter of 2025.

The acquisition brings approximately $11 million of incremental operating revenue to Ryan Specialty, based on the 12 months ended December 31, 2024. This figure has not been audited.

TAG Financial Institutions Group, LLC acted as the exclusive financial advisor to USQ.

About Ryan Specialty

Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. The firm 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. To learn more, please visit ryanspecialty.com.

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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

When will Ryan Specialty (RYAN) complete the acquisition of USQRisk Holdings?

The acquisition is expected to close during the second quarter of 2025.

How much revenue will USQRisk add to Ryan Specialty's operations?

USQ is expected to bring approximately $11 million of incremental operating revenue to Ryan Specialty, based on the 12 months ended December 31, 2024.

What are the main business divisions of USQRisk that RYAN is acquiring?

USQ has two core business divisions: Alternative Risk, which underwrites specialty insurance for bespoke multi-year risk solutions, and Facilities, which creates new products for unique risks in dislocated markets.

What strategic benefits will USQRisk gain from joining Ryan Specialty (RYAN)?

USQ will gain preferred trading status with major brokers, broad-based capital support from top insurance markets, advanced technology infrastructure, and back-office support within an entrepreneurial culture.

What is the AXSAL Re partnership between Ryan Specialty and USQRisk?

AXSAL Re is a partnership that provides excess coverage for mid-sized trucking fleets, representing an existing collaboration between the two companies.