Company Overview - Ryan Specialty is a rapidly growing provider of specialty products and solutions for insurance brokers, agents, and carriers[8] - The company's total revenue for the Last Twelve Months (LTM) ending June 30, 2025, was $2.8 billion[9] - As of June 30, 2025, Ryan Specialty's year-to-date (YTD) total revenue growth was 23.9%[9] - The YTD organic revenue growth was 9.6%[9] - Ryan Specialty is the 2nd largest U S P&C wholesale broker/managing underwriter[9] Market Position and Growth Strategy - Approximately 78% of Ryan Specialty's premiums are placed in the attractive Excess & Surplus (E&S) market[14] - Ryan Specialty's revenue growth with the top 100 retail brokerage firms exceeded the company's organic revenue growth of 12.8% in 2024[36] - The company has completed 62 acquisitions since its founding[35] - Ryan Specialty is capitalizing on market needs to enhance product capabilities through the launch of new Managing General Underwriters (MGUs) and Programs[38] Financial Performance - Ryan Specialty's LTM Adjusted EBITDAC as of June 30, 2025, was $915 million[52] - As of March 31, 2025, the company had $172 million in unrestricted cash and cash equivalents[59] - As of June 30, 2025, Ryan Specialty's net leverage on a credit basis was 3 5x[60]

Financial Performance - Ryan Specialty's total revenue for the Last Twelve Months(LTM) ending June 30, 2025, was $2.814 billion[9, 52] - The company's Organic Revenue Growth for the period ending June 30, 2025, was 9.6%[9] - Adjusted EBITDAC for the LTM ending June 30, 2025, reached $915 million, with an Adjusted EBITDAC Margin of 32.5%[54] Market Position and Growth - Ryan Specialty is the 2nd largest U S P&C wholesale broker/managing underwriter[9] - The company experienced a total revenue growth of 23.9% for the period ending June 30, 2025[9] - Ryan Specialty's revenue growth with the top 100 retail brokerage firms exceeded the company's organic revenue growth of 12.8% in 2024[36] Market Dynamics - Excess and Surplus (E&S) premiums are growing faster than the admitted market, with E&S representing 24% of the commercial market[13, 18] - Delegated authority represented 29% of E&S premiums in 2023[36] Strategic Activities - Ryan Specialty has completed 62 acquisitions since its founding[35] - Approximately $115 million of revenue was acquired thus far in 2025[37] - Wholesale Brokerage accounts for 56% of the business, Underwriting Management 31%, and Binding Authority 13%[28]