Ryan Specialty Signs Definitive Agreement to Acquire Canadian MGU Stewart Specialty Risk Underwriting

Core Viewpoint - Ryan Specialty has signed a definitive agreement to acquire Stewart Specialty Risk Underwriting Ltd. (SSRU), a Canadian managing general underwriter, enhancing its capabilities in the Canadian market and expanding its total addressable market [1][3]. Company Overview - Ryan Specialty is a leading international specialty insurance firm founded in 2010, providing innovative specialty products and solutions for insurance brokers, agents, and carriers [6]. - SSRU, established in 2016, specializes in underwriting large-account, high-hazard property and casualty solutions, with expertise in sectors such as manufacturing, utilities, real estate, construction, and oil and gas [2][3]. Acquisition Details - The acquisition will integrate SSRU into Ryan Specialty Underwriting Managers (RSUM) division, expected to close in the fourth quarter of 2025 [4]. - SSRU generated approximately CAD$18 million (USD$13 million) in operating revenue for the 12 months ending September 30, 2025 [5]. Strategic Importance - The acquisition is viewed as a strategic move to enhance Ryan Specialty's market presence in Canada and leverage SSRU's strong broker relationships and disciplined underwriting practices [3]. - The partnership aims to maintain SSRU's independence while expanding its reach and capabilities within the broader Ryan Specialty platform [3].