Ryan Specialty, an international specialist insurance company, has reached a definitive deal to buy “certain assets” from USQRisk Holdings (USQ), which underwrites non-traditional insurance risks.
Financial details of the deal were not revealed.
The acquisition, due for completion in the second quarter of 2025 (Q2 2025), will incorporate USQ into Ryan Specialty’s alternative risk business.
USQ, established in 2020 by a management team in New York and London, operates two main divisions – Alternative Risk and Facilities.
The Alternative Risk division offers multi-year risk solutions for corporate clients, underwriting, structuring and pricing for specialty insurance products.
The Facilities division focuses on creating products for risks in “highly dislocated markets”.
Ryan Specialty anticipates that the deal will contribute nearly $11m in incremental operating revenue, based on the year ending 31 December 2024, although these figures are not audited.
TAG Financial Institutions Group was the exclusive financial advisor to USQ for this transaction.
Ryan Alternative Risk CEO Kieran Dempsey said: “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.”
USQ CEO Anibal Moreno stated: “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.”
Earlier in the year, Ryan Specialty completed the purchase of Velocity Risk Underwriters from Oaktree Capital Management-managed funds.
“Ryan Specialty enters deal to buy USQRisk assets ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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