CHICAGO & NEW YORK--(BUSINESS WIRE)--Sep. 16, 2024--
Ryan Specialty (NYSE: RYAN), a leading international specialty insurance firm, is pleased to announce it completed the acquisition of the Property and Casualty (“P&C”) MGUs owned by Ethos Specialty Insurance, LLC (“Ethos P&C”) from Ascot Group Limited (“Ascot Group”). Ethos P&C was founded in 2017 by Ascot Group and will become a part of the Ryan Specialty Underwriting Managers (“RSUM”) division of Ryan Specialty. Ethos’ Transactional Liability MGU is not included in the transaction and will remain with Ascot. The previous announcement dated September 3, 2024 regarding the signing of the definitive agreement can be found here.
About Ryan Specialty
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. Our mission is to provide industry-leading innovative specialty insurance solutions for insurance brokers, agents, and carriers. Learn more at
ryanspecialty.com
.
About Ascot Group
Ascot Group is a global specialty insurance and reinsurance group with a record of underwriting excellence and superior claims service. Founded in 2001, Ascot provides a broad range of customized property and casualty products to customers worldwide through its Lloyd’s, Bermuda and US market platforms.
Ascot Group is owned by Canada Pension Plan Investment Board (CPP Investments), a global investment management organization that manages the assets of the Canada Pension Plan (CPP) in the best interest of the more than 22 million contributors and beneficiaries of the CPP. CPP Investments is the largest pension plan fund in Canada, totalling C$646 billion in net assets. CPP Investments is rated ‘AAA’ by S&P and Moody’s.
For more information on Ascot, please visit
www.ascotgroup.com
.
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Ryan Specialty Contact:
Media
Alice Phillips Topping
Chief Marketing & Communications Officer
Ryan Specialty
Alice.Topping@ryanspecialty.com
+1 312-635-5976
Investor Relations
Nicholas Mezick
Director, Investor Relations
Ryan Specialty
IR@ryanspecialty.com
+1 312-784-6152
Ascot Group Contact:
Media
Kristina Corso, Prosek Partners
pro-ascot@prosek.com
+1 908-278-6225
Source: Ryan Specialty
