Ryan Specialty Hldgs Inc Stock Price, News & Analysis

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.

Ryan Specialty (NYSE: RYAN) has signed a definitive agreement to acquire the Property and Casualty (P&C) MGUs owned by Ethos Specialty Insurance from Ascot Group The acquisition will integrate Ethos P&C, founded in 2017, into Ryan Specialty's Underwriting Managers division. Ethos P&C comprises eight programs specializing in property and casualty coverages, including manufacturing, excess property, wind deductible buydowns, New York contractors, and CleanTech general liability.

The transaction, expected to close in September 2024, does not include Ethos' Transactional Liability MGU. Ethos P&C generated approximately $11 million in operating revenue for the 12 months ended June 30, 2024. This strategic move aims to enhance Ryan Specialty's portfolio and market presence in niche specialty lines.

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 Holdings, Inc. (NYSE: RYAN), a leading international specialty insurance firm, has announced its participation in the KBW Insurance Conference on September 4, 2024. Key executives, including Founder and CEO Patrick G. Ryan, President Timothy W. Turner, CFO Jeremiah R. Bickham, President and CEO of Ryan Specialty Underwriting Managers Miles Wuller, and Chief Accounting Officer Janice M. Hamilton, will engage in a fireside chat at 3:35 PM Eastern Time.

The event will be accessible via live stream on Ryan Specialty's investor relations website. A replay of the presentation will remain available for 90 days after the conference concludes, providing extended access to interested parties unable to attend the live session.