Ryan Specialty (RYAN)
Financials · Specialty insurance brokerage and underwriting
The second-largest U.S. P&C wholesale broker and largest managing underwriter, specializing in complex Excess & Surplus risks through a network spanning 35,000+ retail brokers and 350+ carriers.
What Ryan Specialty does
Ryan Specialty is an international specialty insurance intermediary that operates as a wholesale brokerage and delegated underwriting authority platform, serving retail insurance brokers, insurance carriers, and managing underwriting operations. The company places complex or hard-to-place risks primarily through the Excess & Surplus (E&S) insurance market, including Lloyd's of London, and provides distribution, underwriting, product development, administration, and risk management services. As of 2024, Ryan Specialty is the second-largest U.S. P&C insurance wholesale broker and the largest U.S. P&C managing underwriter by premium volume.
Themes: ["Specialty insurance intermediation","E&S market (Excess & Surplus)","Wholesale brokerage / distribution","Managing underwriter operations","Complex risk placement","Alternative risk solutions","Lloyd's of London syndicate access"]
Fundamentals
- Price$40.61 as of 2026-07-09 close
- Market cap$10.7B as of 2026-07-10
- 1-year return-37.4% as of 2026-07-09 close
- P/E98.51 as of 2026-07-10
- Net margin+3.4% as of 2026-07-10
- ROE+17.2% as of 2026-07-10
- Debt / equity5.61 as of 2026-07-10
- Revenue growth (YoY)+18.9% as of 2026-07-10
- Revenue CAGR (3y)+20.9% SEC XBRL
- Beta0.58 as of 2026-07-10
Dividend: yield +1.2%; pays a dividend.
Key risks (from latest filing)
["Failure to recruit and retain senior management and key revenue-producing employees, and inability to successfully execute management succession planning","Loss of relationships with major insurance carriers or retail broker clients; becoming overly dependent on a limited number of carrier or client relationships","Cyclicality of specialty and E&S insurance markets, including reduced insurer capacity, migration of business to the Admitted market, and reduced commission rates or premium volume"]
Competitors & peers
- Aon (AON)
- Marsh McLennan (MMC)
- Willis Towers Watson (WTW)
- Alliant Insurance Services
- Specialty specialty brokers and E&S intermediaries
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.