Global specialty insurance broker Ryan Specialty has agreed to acquire certai
n assets of USQRisk Holdin
gs, LLC, a New York-headquartered managing general agency focused on nontrad
itional insurance.
Formed in 2020 and operating in New York and London, USQ has two core busin
ess divisions: Alternative Risk and Facilities. The Alternative Risk specialty underwrites, structures, prices and places specialty insur
ance for corporate clients seeking bespoke, multi-year risk coverages. The Faci
lities specialty creates new products for unique risks in highly dislocated markets.
The acquisition is expected to bring approximately $11 million of incrementa
l operating revenue to Ryan Specialty, according to the anouncement.
USQ will become a part of the alternative risk business within Ryan Specialty.
Anibal Moreno, chief executive officer of USQ, said he believes USQ will be
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able to “amplify its breadth and depth at Ryan Specialty.”
Kieran Dempsey, CEO of Ryan Alternative Risk, said USQ adds breadth and dept
h to Ryan’s growing alternative risk business. He indicated that USQ’s expansion into facilities gave Ryan Specialty the chance to w
ork directly with USQ though its AXSAL Re partnership, which provides excess cov
erage for mid-sized trucking fleets. “We believe USQ to be among the highest-quality
alternative risk specialists in the industry,” Dempsey said.
Terms of the transaction were not disclosed. The acquisition is expecte
d to close during the second quarter of 2025.
TAG Financial Institutions Group, LLC acted as the exclusive financial advisor to USQ.