# RYAN SPECIALTY HOLDINGS, INC.

Summary updated: 2026-10-03T21:47:17.533352Z
Canonical: https://finbar.com/research/companies/ryan-specialty-holdings-inc

## Overview

Ryan Specialty Holdings, Inc. is a specialty-insurance intermediary and delegated underwriter, connecting retail brokers with insurance capacity for complex or hard-to-place risks. Its business includes wholesale brokerage and delegated underwriting services, with a focus on specialty property-and-casualty insurance; its described market is North America. [1](https://app.finbar.com/go?id=P145710739)[2](https://app.finbar.com/go?id=P145710740)[3](https://app.finbar.com/go?id=T16675068)

The company’s platform also includes reinsurance and employee-benefits capabilities. Its stated wholesale value proposition centers on specialist expertise, breadth of platform, efficient service, durable relationships, and tailored solutions. [3](https://app.finbar.com/go?id=T16675068)[4](https://app.finbar.com/go?id=P14833941)

Founded in 2010, Ryan Specialty reported 2025 revenue of approximately $3.1 billion, indicating its scale as a large specialty-insurance intermediary. [5](https://app.finbar.com/go?id=P88339524)[6](https://app.finbar.com/go?id=T2090525)
[1](https://app.finbar.com/go?id=P145710739)[2](https://app.finbar.com/go?id=P145710740)[3](https://app.finbar.com/go?id=T16675068)[3](https://app.finbar.com/go?id=T16675068)[4](https://app.finbar.com/go?id=P14833941)[5](https://app.finbar.com/go?id=P88339524)[6](https://app.finbar.com/go?id=T2090525)

## Products & services

Ryan Specialty’s products and services are organized across wholesale brokerage, binding authority and underwriting management. Its wholesale brokerage places specialty risks that may be difficult to place because of their unusual nature or size, and provides customized placement, coverage advice and claims support. Products include property coverage—such as coastal wind, flood, wildfire, earthquake, terrorism, builder’s risk and healthcare risks; casualty lines including construction, life sciences, environmental, auto and product liability; professional and executive liability, including D&O, cyber/privacy and E&O; transportation risks; and personal lines such as homeowners, farm/ranch, flood and recreational vehicles. In 2025, wholesale brokerage generated $1,600.4 million, or 53.4% of company net commissions and fees. [7](https://app.finbar.com/go?id=P15166442)[8](https://app.finbar.com/go?id=P19150143)[9](https://app.finbar.com/go?id=P73826440)[10](https://app.finbar.com/go?id=P100675072)[11](https://app.finbar.com/go?id=P88797586)[12](https://app.finbar.com/go?id=P103666214)[13](https://app.finbar.com/go?id=P69626871)[14](https://app.finbar.com/go?id=P34020800)[15](https://app.finbar.com/go?id=P72391640)[16](https://app.finbar.com/go?id=P61087697)

Through binding authority, the company underwrites and binds policies on behalf of carriers within delegated guidelines, with a focus on smaller-premium, higher-volume business and defined underwriting criteria. Offerings include general liability for industries such as manufacturing, contracting, habitational property, hospitality and events; property for vacant, coastal, wildfire-exposed and warehouse risks; transportation coverage; and workers’ compensation, liquor liability, farm/ranch, builder’s risk, inland marine and crime. This segment generated $370.2 million, or 12.4% of 2025 net commissions and fees. [17](https://app.finbar.com/go?id=P22636282)[18](https://app.finbar.com/go?id=P113579027)[19](https://app.finbar.com/go?id=P76086270)[20](https://app.finbar.com/go?id=P86236648)[21](https://app.finbar.com/go?id=P84843759)[22](https://app.finbar.com/go?id=P114993057)[23](https://app.finbar.com/go?id=P101806539)[24](https://app.finbar.com/go?id=P77697546)[25](https://app.finbar.com/go?id=P25535753)

Its underwriting management business operates managing general agencies, managing general underwriters and national programs for carriers in specialized or underserved markets. Services may include product design, underwriting, policy binding, administration and distribution; programs offer commercial and personal insurance tailored to particular lines or industries. The business generated $1,024.0 million, or 34.2% of 2025 net commissions and fees. The company also reports processing more than 1.25 million policies annually, providing data it can use to refine pricing models, placement advice and operating efficiency. [26](https://app.finbar.com/go?id=P74023265)[27](https://app.finbar.com/go?id=P16161445)[28](https://app.finbar.com/go?id=P121210150)[29](https://app.finbar.com/go?id=P118605775)[30](https://app.finbar.com/go?id=P16405912)[31](https://app.finbar.com/go?id=P116303234)[32](https://app.finbar.com/go?id=P78164287)[33](https://app.finbar.com/go?id=P48105744)[34](https://app.finbar.com/go?id=P106425579)[35](https://app.finbar.com/go?id=P27843721)
[7](https://app.finbar.com/go?id=P15166442)[8](https://app.finbar.com/go?id=P19150143)[9](https://app.finbar.com/go?id=P73826440)[10](https://app.finbar.com/go?id=P100675072)[11](https://app.finbar.com/go?id=P88797586)[12](https://app.finbar.com/go?id=P103666214)[13](https://app.finbar.com/go?id=P69626871)[14](https://app.finbar.com/go?id=P34020800)[15](https://app.finbar.com/go?id=P72391640)[16](https://app.finbar.com/go?id=P61087697)[17](https://app.finbar.com/go?id=P22636282)[18](https://app.finbar.com/go?id=P113579027)[19](https://app.finbar.com/go?id=P76086270)[20](https://app.finbar.com/go?id=P86236648)[21](https://app.finbar.com/go?id=P84843759)[22](https://app.finbar.com/go?id=P114993057)[23](https://app.finbar.com/go?id=P101806539)[24](https://app.finbar.com/go?id=P77697546)[25](https://app.finbar.com/go?id=P25535753)[26](https://app.finbar.com/go?id=P74023265)[27](https://app.finbar.com/go?id=P16161445)[28](https://app.finbar.com/go?id=P121210150)[29](https://app.finbar.com/go?id=P118605775)[30](https://app.finbar.com/go?id=P16405912)[31](https://app.finbar.com/go?id=P116303234)[32](https://app.finbar.com/go?id=P78164287)[33](https://app.finbar.com/go?id=P48105744)[34](https://app.finbar.com/go?id=P106425579)[35](https://app.finbar.com/go?id=P27843721)

## Geographic presence

Ryan Specialty Holdings is headquartered in Chicago and reports operations in the United States, the United Kingdom, Europe, Canada, India, and Singapore. As of December 31, 2025, it had 129 offices across the United States, the United Kingdom, Europe, Canada, Australia, the United Arab Emirates, India, and Singapore; its 2025 annual-report shareholder letter noted 24 international offices. [36](https://app.finbar.com/go?id=P57190792)[37](https://app.finbar.com/go?id=P49333217)[38](https://app.finbar.com/go?id=P31428069)[39](https://app.finbar.com/go?id=P59260196)[40](https://ir.ryanspecialty.com/financial-reports/sec-filings/content/0001849253-26-000015/ryanspecialty2025arswrap.htm) The company lists its headquarters in Chicago and Ryan Specialty International in London. [41](https://ryanspecialty.com/contact/)

At year-end 2025, Ryan Specialty had 6,110 full-time employees. [42](https://app.finbar.com/go?id=P37892335) Its filing states that tangible long-lived assets are located in the United States. [43](https://app.finbar.com/go?id=P20633151)[44](https://app.finbar.com/go?id=P28149363)
[36](https://app.finbar.com/go?id=P57190792)[37](https://app.finbar.com/go?id=P49333217)[38](https://app.finbar.com/go?id=P31428069)[39](https://app.finbar.com/go?id=P59260196)[42](https://app.finbar.com/go?id=P37892335)[43](https://app.finbar.com/go?id=P20633151)[44](https://app.finbar.com/go?id=P28149363)[40](https://ir.ryanspecialty.com/financial-reports/sec-filings/content/0001849253-26-000015/ryanspecialty2025arswrap.htm)[41](https://ryanspecialty.com/contact/)

## Business segments

Ryan Specialty Holdings, Inc. reports one operating and reportable segment, which represents 100% of the company’s consolidated revenue. Its filings do not provide separate revenue contributions for the business lines below, so their individual percentage shares cannot be reliably estimated from the reported segment disclosures. [45](https://app.finbar.com/go?id=P70709617)[46](https://app.finbar.com/go?id=P41430336)

The company describes three business lines: **Wholesale Brokerage**, which distributes specialty insurance products through retail agents and brokers; **Binding Authority**, which evaluates risks and binds or issues policies under delegated authority, often for small- to mid-sized risks; and **Underwriting Management**, which provides specialty underwriting and program-management services through managing general underwriters and authorized programs. These are business activities, not separately reported segments, and no percentage contribution by line is disclosed. [47](https://app.finbar.com/go?id=P61591292)[48](https://app.finbar.com/go?id=P98403095)[49](https://app.finbar.com/go?id=P24675584)[35](https://app.finbar.com/go?id=P27843721)[50](https://app.finbar.com/go?id=P72693211)[51](https://app.finbar.com/go?id=P85397061)[52](https://app.finbar.com/go?id=P116164076)[53](https://app.finbar.com/go?id=P43184455)
[45](https://app.finbar.com/go?id=P70709617)[46](https://app.finbar.com/go?id=P41430336)[47](https://app.finbar.com/go?id=P61591292)[48](https://app.finbar.com/go?id=P98403095)[49](https://app.finbar.com/go?id=P24675584)[35](https://app.finbar.com/go?id=P27843721)[50](https://app.finbar.com/go?id=P72693211)[51](https://app.finbar.com/go?id=P85397061)[52](https://app.finbar.com/go?id=P116164076)[53](https://app.finbar.com/go?id=P43184455)

## Company history

Patrick G. Ryan founded Ryan Specialty Group in 2010, launching the business with a focus on specialty insurance underwriting and wholesale brokerage. [54](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/9/global-insurance-leader-and-entrepreneur-patrick-g-ryan) Its early expansion included the 2011 agreement to acquire American E&S’s wholesale business and the 2013 combinations with S.H. Smith and Westrope. [55](https://ryanspecialty.com/news/r-t-specialty-llc-announces-agreement-acquire-american-es-insurance-brokers-wells-fargo-insurance-services/)[56](https://rtspecialty.com/2013/09/16/ryan-specialty-group-llc-announces-merger-assets-operations-s-h-smith-company-inc-r-t-specialty-llc/)[57](https://rtspecialty.com/2013/12/02/r-t-specialty-announces-completion-merger-westrope/) By 2016, its underwriting-management business had grown to 16 managing general underwriter units. [58](https://ryanspecialty.com/news/rsg-underwriting-managers/)

In 2020, Ryan Specialty Group merged with All Risks, a major expansion of its specialty distribution platform. [59](https://ryanspecialty.com/news/ryan-specialty-group-and-all-risks-finalize-merger/) The company went public in July 2021 through an initial public offering. [60](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/13/ryan-specialty-announces-pricing-of-its-initial-public)[61](https://app.finbar.com/go?id=P125890894) Subsequent acquisitions broadened its operations, including Point6 Healthcare and Socius Insurance in 2023 and US Assure in 2024. [62](https://ryanspecialty.com/news/ryan-specialty-completes-acquisition-of-point6-healthcare/)[63](https://ryanspecialty.com/news/ryan-specialty-completes-acquisition-of-socius-insurance/)[64](https://ryanspecialty.com/news/ryan-specialty-signs-definitive-agreement-to-acquire-us-assure/) In October 2024, Tim Turner became CEO and Patrick G. Ryan became Executive Chairman. [65](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/74/ryan-specialty-to-implement-leadership-succession-plan-in)
[61](https://app.finbar.com/go?id=P125890894)[54](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/9/global-insurance-leader-and-entrepreneur-patrick-g-ryan)[55](https://ryanspecialty.com/news/r-t-specialty-llc-announces-agreement-acquire-american-es-insurance-brokers-wells-fargo-insurance-services/)[56](https://rtspecialty.com/2013/09/16/ryan-specialty-group-llc-announces-merger-assets-operations-s-h-smith-company-inc-r-t-specialty-llc/)[57](https://rtspecialty.com/2013/12/02/r-t-specialty-announces-completion-merger-westrope/)[58](https://ryanspecialty.com/news/rsg-underwriting-managers/)[59](https://ryanspecialty.com/news/ryan-specialty-group-and-all-risks-finalize-merger/)[60](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/13/ryan-specialty-announces-pricing-of-its-initial-public)[62](https://ryanspecialty.com/news/ryan-specialty-completes-acquisition-of-point6-healthcare/)[63](https://ryanspecialty.com/news/ryan-specialty-completes-acquisition-of-socius-insurance/)[64](https://ryanspecialty.com/news/ryan-specialty-signs-definitive-agreement-to-acquire-us-assure/)[65](https://ir.ryanspecialty.com/ir-news-events/press-releases/detail/74/ryan-specialty-to-implement-leadership-succession-plan-in)

## Sources

1. [RYAN SPECIALTY HOLDINGS, INC. — Presentation (2026 Q 2), p4](https://app.finbar.com/go?id=P145710739)
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