Ryan Specialty Expands Alternative Risk Portfolio with Acquisition of USQRisk Assets

In a strategic move set to bolster its alternative risk segment, Ryan Specialty announced its definitive agreement to acquire specific assets of USQRisk Holdings, LLC. USQRisk, a company established in 2020 with operations in both New York and London, is recognized for underwriting non-traditional insurance exposures. This acquisition is expected to enhance Ryan Specialty's capabilities in crafting and delivering customized insurance solutions for a diverse array of corporate clients.

USQRisk operates through two primary divisions: alternative risk and facilities. The alternative risk division specializes in developing bespoke, multi-year insurance solutions tailored to corporate clients' unique needs. Meanwhile, the facilities arm focuses on creating insurance products for niche markets that are otherwise underserved. With backing from several highly rated insurance carriers, USQRisk has established itself as a formidable player in the non-traditional insurance space.

Financial specifics of the transaction remain undisclosed; however, Ryan Specialty anticipates that the acquisition will yield approximately $11 million in additional operating revenue from the 12-month period ending December 31, 2024. While this figure has not undergone auditing, it highlights the potential financial impact of this strategic move. According to Kieran Dempsey, CEO of Ryan Alternative Risk, the acquisition not only reinforces the company’s expertise in alternative risk but also leverages USQRisk’s diverse experience in structured liability, property, and auto insurance solutions.

USQRisk CEO Anibal Moreno emphasized the myriad benefits of this acquisition, citing improved distribution channels, increased capital support, enhanced operational infrastructure, and a business culture fostering innovation. Ryan Specialty's acquisition of USQRisk assets is part of a broader growth strategy. In 2024 alone, the company closed seven acquisitions that significantly boosted its annualized revenue by more than $265 million. These strategic moves included high-profile acquisitions such as US Assure for up to $1.48 billion and Innovisk Capital Partners, a specialized managing general underwriter in London. More recently, in early 2025, Ryan Specialty expanded its footprint by acquiring Velocity Risk Underwriters, thereby strengthening its position in the catastrophe-exposed property insurance market. As Ryan Specialty continues to pursue growth and innovation, this acquisition exemplifies its commitment to expanding its suite of specialty insurance products and enhancing its service offerings to meet the evolving needs of its clients.