Ryan Specialty announced that it has signed a definitive agreement to acquire AccuRisk Holdings, a medical stop loss managing general underwriter founded in 2017.
AccuRisk offers traditional insurance products alongside advanced risk mitigation solutions. It has established a national footprint through its Chicago headquarters, as well as offices in Massachusetts and South Carolina. For the year ended July 31, 2023, AccuRisk reported revenue of approximately $25 million.
Founded in 2010, Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents and carriers. Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers. Ryan Specialty is backed by private equity firm Onex Corporation.
Ryan Specialty’s acquisition of AccuRisk is expected to close in December 2023. The deal is set to expand Ryan Specialty’s employee benefits practice, according to founder, chairman and CEO Patrick G. Ryan. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this transaction marks the 28th Managed Care transaction of 2023. This transaction also represents Ryan Specialty’s second acquisition of 2023. In June 2023, the company acquired assets of Point6 Healthcare, a distributor of medical stop loss insurance, pharmacy solutions and complex claims management.
