Ryan Specialty Signs Definitive Agreement To Acquire AccuRisk Holdings; Terms Of The Transaction Were Not Disclosed; The Acquisition Is Expected To Close In December 2023

Ryan Specialty Group Holdings, Inc. +0.29% Post

Ryan Specialty Group Holdings, Inc.

RYAN

58.39

58.39

+0.29%

0.00% Post

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.

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