Ryan Specialty

Name

Ryan Specialty

Legal name

Ryan Specialty Holdings, Inc.

Website

https://ryanspecialty.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Specialty Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)

akta.pro secondary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Specialty insurance
• Wholesale brokerage
• Underwriting management
• Binding authority
• Managing general underwriters

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Wholesale Brokerage (RT Specialty): Commission and fee-based revenue from wholesale brokerage services provided to retail brokers and agents. RT Specialty handles property, casualty, professional lines, transportation, personal lines and workers' compensation insurance products on both open market and delegated authority basis.
2. Underwriting Management / Delegated Authority: Revenue from managing general underwriters (MGUs) operating under delegated authority from carriers. Ryan Specialty Underwriting Managers operates 40 MGUs handling over 300 specialized insurance products. Delegated authority revenue reached $1.4 billion representing 47% of total revenue in 2025.
3. Binding Authority: RT Binding Authority is one of the industry's largest binding authority platforms providing local knowledge and expertise with national authority and nationwide resources.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Ryan Specialty is an international specialty insurance firm that operates as a wholesale broker and managing underwriter. The company distributes specialty insurance products through three core divisions: RT Specialty (wholesale brokerage serving retail brokers and agents), RT Binding Authority (binding authority platform with national reach), and Ryan Specialty Underwriting Managers (RSUM) which operates 40 managing general underwriters handling over 300 specialized insurance products on a delegated authority basis.

Product overview

Ryan Specialty is a specialty insurance firm operating as a platform of interconnected businesses rather than a single unified product. The company operates three core divisions: RT Specialty (wholesale brokerage), RT Binding Authority (binding authority platform), and Ryan Specialty Underwriting Managers (managing general underwriters). These core offerings are supported by digital platform RT Connector for streamlined submissions and policy issuance, and specialized practices like RT ProExec for professional and executive liability. Underwriting management operates through 40+ managing general underwriters handling 300+ specialized insurance products across property, casualty, professional lines, construction, healthcare, and other specialty segments. The company has pursued aggressive M&A strategy acquiring Velocity Risk Underwriters, 360° Underwriting, Ethos Specialty P&C MGUs, Stewart Specialty Risk Underwriting, and others to expand capabilities. Ryan Specialty Alternative Risk division includes USQRisk for structured solutions and Ryan Alternative Capital Re collateralized reinsurance vehicle.

Differentiator

Problem solved

Functional benefit

Brands

• RT ProExec: Specialty insurance practice focused exclusively on Executive, Professional and Transactional Liability
• RT Connector
• Trident Marine Managers
• Ryan Specialty Public Entity
• Clach Casualty Underwriters
• Ryan Financial Lines
• Ryan Specialty National Programs

Products and services

• RT Specialty

Quantifiable outcome

• Underwriting submission turnaround times reduced from approximately 24 hours to under 2 hours in pilot areas through AI investments
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

One partnership is on record.

• Aspen Insurance GroupminorStrategic or Co-development Partner · 1 October 2025Expanded underwriting partnership with Aspen Insurance Group as part of Ryan Specialty's continued growth and market expansion initiatives.

Scale indicators22 records

Recent moves11 records

Expansion highlights8 records

Direct peers

• Amwins Group: The largest U.S. wholesale insurance broker and MGU. Directly competes with Ryan Specialty across specialty wholesale brokerage, binding authority, and managing general underwriting, and is the #1 player that Ryan Specialty explicitly ranks behind in U.S. P&C wholesale premium volume.
• Brown & Brown: Diversified insurance broker with a sizable wholesale and MGU platform (including acquired RPS/Griswold and other specialty units). Competes head-on with Ryan Specialty in U.S. specialty placement and binding authority.
• CRC Group: Wholesale insurance broker and MGU serving retail agents on excess & surplus and specialty lines. Overlaps directly with RT Specialty's wholesale distribution and several RSUM underwriting specialties.
• Burns & Wilcox: Specialty wholesale broker and MGU (part of Hilb Group) focused on surplus lines and hard-to-place risks. Directly comparable to RT Specialty's wholesale and binding authority operations.
• RPS Group / Risk Placement Services: Specialty wholesale broker and binding authority operator now part of Brown & Brown; longstanding direct competitor in E&S placement and binding authority versus RT Specialty and RT Binding Authority.

Broad incumbents

• Arthur J. Gallagher & Co. Large global insurance broker with meaningful wholesale and MGU capabilities. While much broader than Ryan Specialty, its wholesale specialty practice competes for the same retail brokers and carrier partners.
• Aon plc: Global insurance and reinsurance broker with a wholesale-style specialty practice and an active reinsurance capital-markets business that overlaps conceptually with Ryan Specialty's RSUM and Ryan Alternative Capital Re strategy.
• Marsh & McLennan: World's largest insurance broker; competes with Ryan Specialty for complex, large-account specialty placements and operates adjacent wholesale/placement capabilities outside its core retail brokerage.

Emerging players

• Lockton Companies: Largest privately held insurance broker, increasingly competing in specialty and binding authority niches. Smaller dedicated wholesale brokerage scale than Ryan Specialty but expanding into similar specialty lines.
• Hub International: Mid-market insurance broker with growing specialty and wholesale capabilities. Overlaps with Ryan Specialty on specialty placement for North American middle-market clients, though less centralized in E&S wholesale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Ryan_Specialty
• YouTubeyoutube.com/channel/UCew824sPCrKcGoeGBbwFF4A
• LinkedInlinkedin.com/company/ryan-specialty

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ryan Specialty