Ryan Specialty Holdings, Inc. completed the acquisition of Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders for approximately $250 million.
May 30, 2024
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Ryan Specialty Holdings, Inc. (NYSE:RYAN) signed a definitive agreement to acquire Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders on December 21, 2023. Castel Underwriting Agencies has reported revenue of approximately £35 million for the twelve months ended November 30, 2023. Castel team will join Ryan Specialty. The transaction is subject to regulatory approvals and customary closing conditions. The acquisition is expected to close during the first half of 2024. Aprajita Dhundia, Jiri Peterka, Joanna Thomson, Mavnick Nerwal, Sara B. Zablotney, P.C., Adam Kool, P.C., Vanessa Walters, Emma Reid, Robert M. Hayward, P.C., Robert Goedert, P.C., Craig Garvey and Rajab S. Abbassi, P.C. of Kirkland & Ellis International LLP and Kirkland & Ellis LLP acted as legal advisors to Ryan Specialty Holdings. Merrill Lynch International acted as financial advisor to Arch Financial Holdings (UK) Limited. James Mee and David Wallis of Reynolds Porter Chamberlain acted as legal advisor to the management sellers of Castel Underwriting Agencies Limited.
Ryan Specialty Holdings, Inc. (NYSE:RYAN) completed the acquisition of Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders for approximately $250 million on May 1, 2024. Total consideration for this $250 million includes $2.2 million of RYAN Class A common stock.
Ryan Specialty Holdings, Inc. is a service provider of specialty products and solutions for insurance brokers, agents, and carriers. The Company 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. For retail insurance brokers, it assists in the placement of complex or otherwise hard-to-place risks. For insurance carriers, it works with retail and wholesale insurance brokers to source, onboard, underwrite, and service these same risks. The Companyâs Wholesale Brokerage Specialty operates predominantly under the brand RT Specialty along with others, such as RT ProExec and CERT. Its Binding Authority Specialty operates under the RT Specialty and RT Binding Authority brands. Its Underwriting Management Specialty operates under multiple brands, which are collectively referred to as Ryan Specialty Underwriting Managers.
Ryan Specialty Holdings, Inc. completed the acquisition of Castel Underwriting Agencies Limited from Arch Financial Holdings (UK) Limited and other minority shareholders for approximately $250 million.
RYAN SPECIALTY HOLDINGS, INC. 
