Global specialty insurance broker Ryan Specialty has agreed to acquire certain assets of USQRisk Holdings, LLC, a New York-headquartered managing general agency focused on nontraditional insurance.

Formed in 2020 and operating in New York and London, USQ has two core business divisions: Alternative Risk and Facilities. The Alternative Risk specialty underwrites, structures, prices and places specialty insurance for corporate clients seeking bespoke, multi-year risk coverages. The Facilities specialty creates new products for unique risks in highly dislocated markets.

The acquisition is expected to bring approximately $11 million of incremental operating revenue to Ryan Specialty, according to the anouncement.

USQ will become a part of the alternative risk business within Ryan Specialty.

Anibal Moreno, chief executive officer of USQ, said he believes USQ will be able to “amplify its breadth and depth at Ryan Specialty.”

Kieran Dempsey, CEO of Ryan Alternative Risk, said USQ adds breadth and depth to Ryan’s growing alternative risk business. He indicated that USQ’s expansion into facilities gave Ryan Specialty the chance to work directly with USQ though its 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,” Dempsey said.

Terms of the transaction were not disclosed. The acquisition is expected to close during the second quarter of 2025.

TAG Financial Institutions Group, LLC acted as the exclusive financial advisor to USQ.

Topics
Mergers & Acquisitions