Ryan Specialty Hldgs Inc Stock Price, News & Analysis

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.

Ryan Specialty (NYSE: RYAN) has signed a definitive agreement to acquire US Assure Insurance Services of Florida. US Assure is a leading program specializing in builder’s risk insurance, known for its strong market presence and proprietary technology platform. The acquisition will integrate US Assure into Ryan Specialty’s Underwriting Managers Specialty. US Assure issues admitted market insurance coverage on behalf of Zurich American Insurance Company, an AM Best “A+” rated carrier. This strategic acquisition is expected to close in Q3 2024, subject to customary closing conditions.

Ryan Specialty Holdings (NYSE: RYAN) reported strong Q2 2024 results. Total revenue grew by 18.8% to $695.4 million, with an organic revenue growth rate of 14.2%. Net income increased 40.8% to $118.0 million, or $0.37 per diluted share. Adjusted EBITDAC was up 27.6% at $247.7 million, with a 35.6% margin. Adjusted net income rose 29.8% to $160.6 million, or $0.58 per diluted share. The company declared a quarterly dividend of $0.11 per share, payable on August 27, 2024. Ryan Specialty also announced the acquisition of US Assure, a program focused on SME builder’s risk insurance, expected to be accretive. The company has updated its full-year 2024 guidance, with organic revenue growth projected between 13.0%-14.0% and adjusted EBITDAC margin between 32.0%-32.5%.

Ryan Specialty (NYSE: RYAN) has announced an exclusive partnership with MagMutual, the largest mutual insurer of physicians and hospitals in the U.S. This collaboration, through Ryan Specialty's underwriting division Sapphire Blue, aims to create a leading insurance solution for healthcare providers, particularly in senior living and allied healthcare facilities.

Key points:

• Sapphire Blue will become MagMutual's exclusive underwriter for policyholders outside the traditional physician and hospital model
• The partnership is expected to strengthen product innovation, customer service, and risk management
• Both companies are known for their innovation, integrity, and client-focused approach
• This strategic alignment is anticipated to bring greater customer solutions and innovation to clients and their insureds

Private Client Select Insurance Services (PCS), majority-owned by AIG and Stone Point Capital, has formed an exclusive distribution partnership with Ryan Specialty for the High and Ultra-High-Net-Worth markets in the U.S. This partnership aims to accelerate PCS's growth by leveraging Ryan Specialty's extensive broker network. AIG will continue to provide capacity and delegate underwriting authority to PCS, while also allocating more Excess and Surplus Lines (E&S) capacity. Additionally, AIG will offer exclusive E&S paper in all 50 states through Marbleshore Specialty Insurance Company, pending regulatory approval. This collaboration is expected to enhance PCS's position as a leading Managing General Underwriter and enable more efficient delivery of services to retail partners and clients.