Ryan Specialty Group, a wholesale specialty insurance brokerage providing MGU and other services, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Ryan Specialty Group provides specialty insurance solutions for brokers, agents, and carriers. For retail insurance brokers, it assists in the placement of complex or otherwise hard-to-place risks. For insurance carriers, it works with retail and wholesale insurance brokers to source, onboard, underwrite and service those hard-to-place risks. A significant majority of the premiums Ryan Specialty Group places are bound in the E&S market, which includes Lloyd’s of London.
The Chicago, IL-based company was founded in 2010 and booked $1.1 billion in sales for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol RYAN. J.P. Morgan, Barclays, Wells Fargo Securities, Goldman Sachs, UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets, and Keefe Bruyette Woods are the joint bookrunners on the deal. No pricing terms were disclosed.
